Research Briefing | Sep 17, 2021

Denmark | Strong consumer spending should power the recovery

Ipad Frame-Denmark-Strong-consumer-spending-should-power-the-recovery

We’ve raised our 2021 GDP growth forecast by 0.2ppts to 3.4%, following the full release of the Q2 national accounts. While the consumer rebound fell short of expectations, strong wage growth and an unwinding of excess savings should power economic growth in H2.

What you will learn:

  • Manufacturing contributed negatively to growth in Q2 as firms continue to see extended delivery times amid the global supply-chain disruption.
  • With Covid cases under control and vaccine coverage high, strong consumer demand should power growth.
  • Inflation in August reached 1.8%, a nine-year high.

Back to Resource Hub

Related Services

Post

Commodity markets shrug off Red Sea attacks

Commodity markets have barely reacted to Red Sea attacks, and we think the impact on prices will be minimal. As a result, we have not changed our price forecasts beyond a very short-term upward revision to crude oil and gold prices.

Find Out More

Post

Names will never hurt me –EM monetary credibility remains intact

Emerging market (EM) central banks' credibility to restrain inflation over the medium-term horizon remains intact despite the tests it's been subjected to in an age of supply shocks and massive income disappointments – and despite name-calling by some banks' political masters.

Find Out More