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.
Tags:
Related Services
Post
At a Glance: Global Trade
Explore how slowing global trade growth, China’s export pressures, and accelerating AI investment could reshape world trade volumes through 2026.
Find Out More
Post
Timid budget for 2026 doesn’t wish away fiscal risks for Czech Republic
Despite the new government's 2026 budget being slightly more timid than anticipated, we don't plan major changes to our outlook. However, this doesn't mean the government will show fiscal restraint in the coming years. A smaller deficit will slow but not halt the rise in bond yields in 2026, as markets price in higher current spending-driven borrowing and relaxed fiscal rules.
Find Out More
