FX.co ★ Denmark Economy Grows Less Than Estimated In Q3

Recent data from Statistics Denmark, released on Friday, reveals that the Danish economy's growth in the third quarter was less robust than initially reported. The gross domestic product (GDP) increased by 0.9 percent from the previous quarter, a slight adjustment from a revised rise of 1.2 percent reported in the second quarter. Initially, the preliminary figures for the third-quarter growth had also pointed to a 1.2 percent increase.

The primary contributor to the overall economic growth was a notable upswing in the industrial sector, with the pharmaceutical industry playing a pivotal role, as highlighted by the agency.

In terms of expenditure, household consumption edged up by 0.1 percent, while public consumption increased by 0.4 percent. Gross fixed investments saw a growth of 1.0 percent, and there was a 0.8 percent rise in the exports of goods and services, mainly fueled by greater outflows of goods.

When viewed on an annual basis, the economy expanded by 3.1 percent during the third quarter, a downward revision from the earlier estimate of 3.9 percent growth.

Additionally, separate official statistics indicated a decline in consumer confidence, as measured by the consumer confidence index, which fell to -13.1 in December from -9.3 in November. This marks the lowest recorded level for the year 2024.