Denmark Economic Forecast

Denmark Economic Outlook

October 23, 2018

While data for the third quarter has been mixed, the economy likely continued to expand at a steady pace. Although the manufacturing PMI fell in September as new orders and production growth slid, the average PMI reading in the third quarter was much stronger than Q2’s. Moreover, a tight labor market is strengthening households’ disposable income, which is likely feeding through to a pick-up in consumer spending—as seen by August’s solid retail sales figure. On the downside, business confidence deteriorated in September, while the agricultural sector likely faltered in the quarter, dragged down by depressed pork prices and the summer drought, which damaged crops.

Denmark Economic Growth

Strong macroeconomic fundamentals should drive the Danish economy nicely into 2019. Private consumption should remain a main driver of growth, supported by a healthy labor market, low inflation and accommodative monetary conditions. Nevertheless, external downside risks to the outlook, including a downturn in global trade and uncertainty surrounding Brexit negotiations, persist. Met the why particular panelists expect GDP to increase 1.9% in 2019, which is unchanged from last month’s estimate, and 1.7% in 2020.

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Denmark Facts

Bond Yield0.32-1.54 %Nov 15
Exchange Rate6.59-0.57 %Nov 15
Stock Market906-0.39 %Nov 15

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