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.

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Denmark GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-2.00 0.60 3.00 -2.40 1991 - 2020 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-03-31 06:00 AM QoQ Final Q4 0.6% 0.5% 0.2% 0.2%
2020-05-15 06:00 AM QoQ Adv Q1 -1.9% 0.6% -3.2%
2020-05-29 06:00 AM QoQ Prel Q1 -2.1% 0.4% -3.2%
2020-06-30 06:00 AM QoQ Final Q1 -2% 0.6% -2.1%
2020-08-14 06:00 AM QoQ Adv Q2 -2% -10.3%
2020-08-31 06:00 AM QoQ Prel Q2 -2% -10.3%
2020-09-30 06:00 AM QoQ Final Q2 -2% -10.3%
2020-11-13 07:00 AM QoQ Adv Q3 8%


News Stream
Danish Economy Shrinks 2% Q0Q in Q1
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.
2020-06-30
Danish Q1 Economy Shinks the Most in 11 Years
The Danish economy contracted by 2.1 percent on quarter in the three months to March of 2020, and compared to a downwardly revised 0.4 percent rise in the previous period, a preliminary estimate showed. This was the first contraction in the economy since the third quarter 2017 and the steepest fall in eleven years, as both household consumption (-3.4 percent vs 1.8 percent) and government spending (-1.5 percent vs 1.4 percent) contracted while fixed investment edged down (-0.1 percent vs 0.4 percent). Also, net external demand contributed negatively to GDP growth, as exports fell 0.8 percent (vs -0.5 percent in Q4) while imports edged lower (-0.1 percent (vs 0.1 percent in Q4). Year-on-year, the economy shrank 0.3 percent, after a downwardly revised 2.2 percent expansion in the fourth quarter.
2020-05-29
Danish Economy Shrinks for 1st Time in 2-1/2-Years
Denmark’s gross domestic product shrank 1.9 percent on quarter in the three months to March of 2020, following a 0.6 percent advance in the previous period, a flash estimate showed. This was the first contraction in GDP since the third quarter 2017, amid restriction measures to prevent further spreading coronavirus outbreak. Negative contributions to growth came from transports, hotels and restaurants, public services, culture and leisure. Coversely, there was no signs of decline in the commodity-producing industries such as agriculture, industry and construction.
2020-05-15
Danish GDP Growth Revised Up to 0.6% in Q4
The Danish economy advanced by 0.6 percent on quarter in the three months to December of 2019, more than an earlier estimate of a 0.2 percent growth, and compared to a 0.5 percent rise in the previous period, and above market estimate of 0.2 percent expansion. The growth was driven by household consumption (1.9 percent vs 0.5 percent); government spending (1.6 percent vs 0.2 percent), and fixed investment (0.2 percent vs 0.1 percent). Meanwhile, net external demand contributed negatively to GDP growth, as exports fell 0.3 percent (vs 0.9 percent in Q3) while imports went up 0.2 percent (vs 0.3 percent in Q3). Year-on-year, the economy grew 2.2 percent, after an upwardly revised 2.6 percent expansion in the third quarter.
2020-03-31

Denmark GDP Growth Rate
In Denmark, household consumption is the main component of GDP and accounts for 49 percent of its total use, followed by government expenditure (27 percent, the highest among EU countries) and gross fixed capital formation (19 percent). Exports of goods and services account for 54 percent of GDP while imports account for 48 percent, adding 6 percent of total GDP.