FX.co ★ Danish Economy Rebounds More Than Estimated

The Danish economy demonstrated stronger growth in the second quarter than initially estimated, according to the latest data released by Statistics Denmark on Monday.

Gross domestic product (GDP) increased by 1.1 percent from the previous quarter, effectively recovering from a revised 0.8 percent decline in the first quarter. This figure surpasses the earlier flash estimate, which projected a 0.6 percent growth rate.

The upward revision is primarily attributed to updated figures on imports and exports, with net exports being adjusted upward by DKK 11 billion, as reported by the agency.

The quarterly GDP growth was largely fueled by the pharmaceutical sector, though trade, transportation, and business services negatively impacted overall growth.

In terms of expenditure, household consumption decreased by 0.4 percent and public consumption fell by 0.2 percent. Conversely, gross fixed investments rose by 1.2 percent, driven by increased housing investments. Both exports and imports saw gains, rising by 3.9 percent and 1.4 percent, respectively.

On an annual basis, the economy grew by 3.4 percent in the second quarter, an upward revision from the initial estimate of 2.5 percent.