Denmark Economic Outlook
January 29, 2019Economic momentum appears to have remained solid in the final quarter of the year, following a strong showing in Q3. Export growth accelerated in November from October’s recovery on robust pharmaceutical shipments, contributing to a higher current account surplus in the month. The improvement was corroborated by the manufacturing sector, with the PMI inching higher in December on stronger production, and Q4’s average PMI reading surpassing that of the prior quarter. Nevertheless, the third consecutive decline in new orders in December spells softer demand conditions moving into 2019. Turning to consumer spending, the bedrock of the economy, retail sales growth was robust in Q4, likely underpinned by strong real wage growth. Consumer confidence, however, was less upbeat in Q4, although it did improve for the first time in six months in January.
Denmark Economic GrowthThe Danish economy should enjoy solid growth in 2019, provided the global economy doesn’t markedly slowdown and/or endure a hard Brexit. Economic growth is expected to be more balanced this year as the contribution from exports improves after a lackluster performance in 2018. Moreover, private consumption should continue to support the expansion thanks to a growing labor force and accommodative monetary conditions. Met the why particular panelists expect GDP to increase 1.8% in 2019, which is down 0.1 percentage points from last month’s estimate, and 1.6% in 2020.
Denmark Economy Data
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|Bond Yield||0.24||-1.54 %||Feb 14|
|Exchange Rate||6.60||-0.57 %||Feb 14|
|Stock Market||975||-0.39 %||Feb 14|
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Denmark Economic News
February 11, 2019
According to Statistics Denmark, consumer prices rose 0.2% over the previous month in January, swinging from the 0.3% dip recorded in December.
January 30, 2019
According to a survey conducted by Statistics Denmark, business confidence among firms in the industrial sector was unchanged in January at December’s minus 5 points, remaining below the critical zero-point threshold that separates optimism from pessimism in the sector. Continued pessimism in the industrial sector came primarily on the back of plunging new business inflows.
January 23, 2019
The consumer confidence index released by Statistics Denmark recovered slightly at the first of the year, rising to 3.9 points in January from December’s two-year low of 2.9 points.
January 11, 2019
According to Statistics Denmark, consumer prices fell 0.3% over the prior month in December, matching November’s dip.
January 4, 2019
According to a survey conducted by Statistics Denmark, business confidence among firms in the industrial sector fell to minus 5 points in December from a revised 0 points in November (previously reported: -1 point), dropping below the zero-point threshold that separates optimism from pessimism in the sector. The tumble in industrial business sentiment was primarily driven by declining new orders.