Denmark | Economy heats up as GDP surprises to the upside in Q3
According to the advance estimate, Q3 GDP exceeded expectations with a 2% expansion. While this figure is subject to revision, Denmark is on course for very strong growth this year after the 2.1% GDP decline in 2020.
What you will learn:
- Another pickup in consumer activity is expected to have driven growth over the summer, while output in pharmaceuticals helped offset some weakness in manufacturing more broadly.
- We have raised our 2021 GDP growth forecast by 0.5ppts to 5%, which will be followed by 3.3% growth in 2022.
- Inflation rose further to 3% y/y in October from 2.2% in September as electricity prices soared over the month.
Tags:
Related Services
Post
BoK’s monetary policy to tighten even as hiking cycle ends
Even without rate hikes, central banks' monetary policies can effectively tighten if the nominal neutral rate falls below the policy rate. We expect this will be the case for the Bank of Korea this year, as the gap between the policy rate and the nominal neutral rate widens.
Find Out More
Post
China: Emerging green shoots in Spring, but not out of the woods
We now incorporate a faster recovery from the post-Covid exit wave and raise our 2023 full-year GDP growth forecast to 4.5% (from 4.2% previously).
Find Out More