Research Briefing | Jan 19, 2022

Denmark’s successful virus containment strategy means Omicron will not derail growth in 2022

Ipad Frame - Denmark-Successful-virus-containment-strategy-means-Omicron-will-not-derail-growth-in-2022

We’ve lowered our 2022 Danish GDP forecast 0.1ppt to 3%, with the Omicron variant expected to slow activity in Q1. But the economy should make up the lost ground in the following quarters as the new restrictions – which have been quite benign – have already begun to be eased.

What you will learn:

  • High vaccination rates, the rollout of boosters, and extensive testing capabilities support the easing of restrictions, meaning Omicron should not significantly alter the course of growth this year.
  • We have revised up our 2022 inflation forecast to 2.3% from 1.6% owing to the persistence of supply-chain pressures in the first half of this year and still-high energy prices.
  • Labour market pressures are showing no signs of easing, as the unemployment rate fell to 2.8% in November, its lowest level since October 2008.

Back to Resource Hub

Related Services

Post

Slowdown in 2023, except for Chinese cities

Growth across advanced Asia Pacific cities is slowing down in 2022's second half, and their full-year growth rates will trend downwards in 2023. In emerging Asian cities, we expect an uptick in growth in 2022, followed by a marked weakening in 2023.

Find Out More

Post

European cities face a tough winter as recession spreads

Strong annual GDP growth figures for most major European cities do not tell the whole story in 2022 as the economic environment across Europe has continued to deteriorate in the second half of this year. We expect technical recessions across most major European cities in H2 2022 and into Q1 2023.

Find Out More