Research Briefing | Aug 18, 2021

Denmark | Vaccination has limited the Delta variant to a downside risk

Denmark | The vaccination programme has limited the Delta variant to a downside risk

The flash release estimates that GDP expanded 2.2% in Q2, slightly better than our 2.1% estimate, pushing the Danish economy above its pre-pandemic level. We have therefore raised our 2021 GDP growth forecast by 0.1ppt to 3.2%, which will be followed by 3.4% expansion in 2022.

What you will learn:

  • Growth this summer should be supported by a partial rotation back into spending on services and buoyant retail activity as consumers continue to unwind excess savings accumulated during the pandemic.
  • The Delta variant remains the key downside risk. But Covid cases remain contained so far
  • Goods inflation remains elevated, but services inflation fell back.
  • Our forecasts up to 2024 for all of the key economic indicators including GDP, Consumer demand, exports of goods and services, Domestic demand

Back to Resource Hub

Related Services

Seoul, South Korea

Post

BoK’s monetary policy to tighten even as hiking cycle ends

Even without rate hikes, central banks' monetary policies can effectively tighten if the nominal neutral rate falls below the policy rate. We expect this will be the case for the Bank of Korea this year, as the gap between the policy rate and the nominal neutral rate widens.

Find Out More

Post

China: Emerging green shoots in Spring, but not out of the woods

We now incorporate a faster recovery from the post-Covid exit wave and raise our 2023 full-year GDP growth forecast to 4.5% (from 4.2% previously).

Find Out More