Research Briefing | Oct 19, 2021

Denmark | Economy on course for rapid growth this year

Ipad Frame - Denmark-Economy-on-course-for-rapid-growth-this-year

The Danish economy expanded 2.8% q/q in Q2, sending GDP comfortably above its pre-pandemic level. As a result, we have raised our 2021 GDP growth forecast to 4.5% from 3.4% previously, with less pandemic scarring now expected.

What you will learn:

  • Despite supply problems in manufacturing, a fully reopened domestic economy should support continued growth at a moderate pace over the rest of the year.
  • Rising services activity and elevated retail expenditures are indicative of a consumer-led recovery now that the pandemic is under control.
  • The September inflation reading saw CPI rise by 2.2%, the highest rate in nearly nine years and up from 1.8% in August.
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