GDP in Denmark

Denmark GDP | Economic News & Forecasts

Denmark - GDP

GDP growth softens in Q3

A second national accounts release revealed that the economy grew at a softer pace than initially expected in the third quarter. GDP expanded 0.9% in seasonally-adjusted quarter-on-quarter terms in Q3, down from the 2.0% expansion announced in the preliminary estimate (Q2: +2.2% s.a. qoq). On an annual basis, the economy grew 3.6%, down from the 5.4% estimated in the preliminary reading and moderating from the previous quarter’s 8.8% expansion.

The quarterly slowdown was broad-based. Private consumption growth came in at 2.1%, down from the 6.9% expansion recorded in Q2. This came despite an increase in employment levels in Q3, which will have supported spending in the quarter. Moreover, fixed investment expanded at a more moderate pace in the quarter (Q3: +0.2% s.a. qoq; Q2: +3.0% s.a. qoq). Lastly, government spending swung to a 2.5% contraction over the prior quarter in Q3 (Q2: +1.2% s.a. qoq).

Turning to the external sector, exports of goods and services declined at a softer rate of 0.5% in Q3 following Q2’s 1.4% fall. Meanwhile, imports of goods and services swung from a 2.7% expansion in Q2 to a 0.7% contraction in Q3.

FocusEconomics Consensus Forecast panelists see the economy expanding 3.0% in 2022, which is down 0.1 percentage points from the previous month’s forecast, and growing 2.0% in 2023.

Denmark - GDP Data

2015   2016   2017   2018   2019  
Economic Growth (GDP, annual variation in %)2.3  3.3  2.0  2.4  2.4  

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Denmark GDP Chart

Denmark GDP
Note: Annual variation of gross domestic product (GDP) in %.
Source: Statistics Denmark (DST) and FocusEconomics calculations.

Denmark Facts

Value Change Date
Bond Yield-0.15-1.54 %Jan 01
Exchange Rate6.66-0.57 %Jan 01

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