Denmark Economic Forecast

Denmark Economic Outlook

September 26, 2017

In the second quarter, the Danish economy grew at the same pace as in the prior quarter and a notch above market expectations. The modest performance was supported by a rebound in fixed investment growth that offset a slowdown in government consumption growth, while private consumption recorded a flat reading in quarterly terms. Moreover, the slowdown in household spending is likely to have carried over into the third quarter of the year as retail sales in July inched down for a second consecutive month. Consumer confidence also continued its downward trajectory in September despite strong labor market dynamics. Business confidence, similarly, fell to the neutral zero-point mark in August from July’s three-year high—a seeming erosion of firms’ assuredness that had propelled fixed investment growth only a quarter earlier.

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Denmark Facts

ValueChangeDate
Bond Yield0.52-6.93 %Oct 13
Exchange Rate6.300.09 %Oct 13
Stock Market1,026-1.41 %Oct 13

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Denmark Economic Growth

September 26, 2017

Private consumption and fixed investment are expected to buttress the economy this year and next, despite the recent slowdown in the pace of growth. Household spending is likely to benefit from declining unemployment and a tight labor market. The latter, creating labor shortages, could drag on growth but the government is expected to address labor market issues through new tax reforms. Panelists expect GDP to expand 2.1% in 2017 and 1.8% in 2018, up 0.1 percentage points from last month.

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