The Danish economy contracted by 2.0 percent on quarter in the three months to March of 2020, and compared to an upwardly revised 0.6 percent rise in the previous period, better than an earlier estimate of a 2.1 percent contraction. This was the first contraction in the economy since the third quarter 2017 and the steepest fall in eleven years, as both household consumption (-3.5 percent vs 1.5 percent) and government spending (-1.5 percent vs 1.5 percent) contracted while fixed investment showed no growth (vs 0.9 percent). Also, net external demand contributed negatively to GDP growth, as both exports and imports were down. Year-on-year, the economy shrank 0.2 percent, after a downwardly revised 2.1 percent expansion in the fourth quarter.
GDP Growth Rate in Denmark averaged 0.40 percent from 1991 until 2020, reaching an all time high of 3 percent in the second quarter of 2006 and a record low of -2.40 percent in the fourth quarter of 2008. This page provides the latest reported value for - Denmark GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Denmark GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Statistics Denmark
GDP Growth Rate in Denmark is expected to be 8.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Denmark to stand at 0.90 in 12 months time. In the long-term, the Denmark GDP Growth Rate is projected to trend around 0.80 percent in 2021 and 0.50 percent in 2022, according to our econometric models.