Solid growth for Denmark expected despite emergence of Omicron variant

Downward revisions to Q2 and Q3 GDP figures and concerns about the spread of the Omicron coronavirus variant have led us to lower our 2022 GDP growth forecast to 3.1% from 3.3% previously.

What you will learn:

• We see activity picking up from Q2 2022 under the expectation that supply chain issues will have begun to subside and the vaccine booster programme will have brought the pandemic back under control.
• We don’t think Denmark will be as adversely affected as other European economies, but it could feel the pinch from softer external demand and consumer uncertainty.
• Growth in 2021 is now forecast at 3.8%.