Back to Resource Hub
Research Briefing | Nov 18, 2021

Denmark | Economy heats up as GDP surprises to the upside in Q3

Ipad Frame - Denmark-Economy-heats-up-as-GDP-surprises-to-the-upside-in-Q3

According to the advance estimate, Q3 GDP exceeded expectations with a 2% expansion. While this figure is subject to revision, Denmark is on course for very strong growth this year after the 2.1% GDP decline in 2020.

What you will learn:

  • Another pickup in consumer activity is expected to have driven growth over the summer, while output in pharmaceuticals helped offset some weakness in manufacturing more broadly.
  • We have raised our 2021 GDP growth forecast by 0.5ppts to 5%, which will be followed by 3.3% growth in 2022.
  • Inflation rose further to 3% y/y in October from 2.2% in September as electricity prices soared over the month.

Tags: ConsumerConsumer recoveryCoronavirusCovid19CPI inflationDenmarkEmploymentEnergy pricesEuropeGDPIndustryInflationLabour marketsNordicPandemicRecoverySupply and demandSupply chain
Share: Email | LinkedIn | Twitter
Back to Resource Hub

Related Services

Takaichi’s big win doesn’t affect the fiscal outlook for Japan

Takaichi’s big win doesn’t affect the fiscal outlook for Japan

The ruling Liberal Democratic Party's (LDP) landslide election victory on Sunday doesn't change our expectation of a primary fiscal deficit of 2%-3% of GDP in FY2026-FY2028 – we still see the deficit only starting to decline from FY2029. We also keep our view that the 10-year Japanese government bond (JGB) yield will be at 2.3% at end-2026 and 2.5% at end-2027 and beyond.
US and Chinese strength won’t boost all other economies

US and Chinese strength won’t boost all other economies

Upward revisions to US and Chinese GDP growth in Q4 meant that the previously anticipated soft end to 2025 failed to materialise.