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Denmark Economic Forecast

Denmark Economic Outlook

March 3, 2020

Economic growth eased in the fourth quarter of last year. A slight fall in exports led the deceleration, although faster private consumption growth and rebounding fixed investment cushioned the slowdown. Shifting focus to the first quarter of this year, the economy appears to be gaining some momentum on the back of resilient household spending. In January, retail sales grew significantly and the labor market remained rock solid for the 15th consecutive month, while consumer confidence averaged higher in January–February than in Q4. That said, fears linked to the coronavirus outbreak could hit confidence in March. Meanwhile, the manufacturing PMI rose higher in January and business confidence recovered notably through to February, which should be supporting investment.

Denmark Economic Growth

Growth is seen slowing this year, as weak economic growth in the Eurozone will likely drag on exports and thus keep fixed investment soft. Nevertheless, stronger domestic demand due to an extremely tight labor market and gains in house prices should support economic activity. FocusEconomics analysts see growth of 1.5% in 2020, which is unchanged from last month’s forecast, and 1.5% again in 2021.

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Denmark Facts

Value Change Date
Bond Yield-0.15-1.54 %Jan 01
Exchange Rate6.66-0.57 %Jan 01

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