Denmark Economic Forecast

Denmark Economic Outlook

May 28, 2019

Growth ebbed noticeably in the first quarter according to a flash estimate, although this was partly due to a tough base effect following Q4 2018’s solid performance. While a full breakdown by components has yet to be released, industrial production growth lost momentum in Q1. In the same quarter, retail sales growth weakened amid an uptick in inflation, while employment growth also slipped, which points to a potential slowdown in private consumption. Moving to Q2, early indicators are largely positive, with the manufacturing PMI ticking up in April and consumer confidence rising in May. Business sentiment also rose in April but remained in negative territory amid a moderate global growth outlook and trade headwinds. In the political arena, general elections will be held on 5 June. They should spell continuity regarding the current prudent fiscal stance and the growth outlook should remain stable.

Denmark Economic Growth

The economy is projected to gain impetus this year, driven by a robust external sector, a tight labor market and solid wage gains. Uncertainty regarding immigration policy following June’s election, intensified trade tensions, a global economic slowdown and Brexit pose risks to growth. Met the why particular analysts expect growth of 1.7% in 2019, which is unchanged from last month’s forecast, and 1.6% in 2020.

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Denmark Facts

Bond Yield-0.21-1.54 %Jun 13
Exchange Rate6.62-0.57 %Jun 13
Stock Market1,020-0.39 %Jun 13

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