Denmark’s 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.
Tags:
Related Services

Post
US-China relations improve, yet industrial recession remains likely
For the first time this year, our global industrial production outlook for 2025 has been upgraded. However, we still anticipate an industrial recession in Q2 and Q3.
Find Out More
Post
Positive tariff news does little to dispel overall uncertainty
We've nudged up our world GDP growth forecasts for 2025 and 2026 by 0.1ppt to 2.4%, in part to reflect the temporary but substantial reduction in tariffs between the US and China.
Find Out More