Denmark Economic Outlook
April 30, 2018Leading indicators suggest the economy was on firm footing in the first quarter. It was likely buoyed by robust consumption growth reflecting solid gains in households’ purchasing power, and a solid showing of the industrial sector. Retail sales in the quarter recorded their best performance since 2016, and consumer confidence remained elevated. Moreover, the average PMI reading from January to March was at the highest level on record, signaling robust expansion of industrial activity despite subdued output growth in February. Notably, recent data showed Denmark's tight labor market kept adding jobs at a strong pace in the quarter, boding well for wage growth going forward. However, seasonally-adjusted merchandise exports fell for the third consecutive month in February amid timid demand from Europe. Moreover, the current protracted wage sector dispute in the public sector threatens to disrupt the economic momentum if no agreement is reached before the new 8 May deadline, and it was likely the cause of a dip in consumer confidence in April.
Denmark Economic GrowthRobust household consumption, buoyed by higher wage growth as well as prolonged low interest rates and inflation, should buttress the expansion this year, while high global growth should support industrial activity and the external sector. However, elevated household debt will keep weighing on spending, and the tight labor market risks leading to shortages of skilled workers in the medium-term. Met the why particular panelists expect GDP to expand 1.8% in 2018, unchanged from last month’s estimate. For 2019, the panel projects growth of 1.9%.
Denmark Economy Data
5 years of Denmark economic forecasts for more than 30 economic indicators.
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|Bond Yield||0.60||-1.54 %||May 21|
|Exchange Rate||6.32||-0.57 %||May 21|
|Stock Market||1,000||-0.39 %||May 18|
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Denmark Economic News
April 20, 2018
The consumer confidence index released by Statistics Denmark fell to 7.1 points in April, down from 8.5 points in March.
April 11, 2018
Consumer prices were flat month-on-month in March, easing from the 0.7% increase logged in February.
March 27, 2018
According to the business survey conducted by Statistics Denmark, business confidence among manufacturing firms deteriorated in March.
March 20, 2018
The consumer confidence index released by Statistics Denmark was stable at February’s 8.5 points in March, a joint eight-month high.
March 12, 2018
Consumer prices rose 0.7% compared to the previous month in February, contrasting January’s 0.3% decline.