FX.co ★ Danish Q4 GDP Growth Eases

Denmark’s economy expanded by 0.2% quarter-on-quarter in the fourth quarter of 2025, slowing sharply from an upwardly revised 2.3% in the previous quarter, which had marked a near four-year high, according to preliminary estimates.

Net external demand weighed on growth, as exports declined more sharply (-0.5% vs 3.6% in Q3) than imports (-0.4% vs -0.1%). Fixed investment also contracted (-2.7% vs 1.2%), dragged down by steep drops in housing investment (-3.1% vs 2%) and investment in intellectual property rights (-11.4% vs 3.7%). Household consumption growth moderated as well (0.2% vs 0.6%).

By contrast, government consumption provided a strong positive contribution, rising 5.6% compared with 1.2% in the previous quarter.

On an annual basis, GDP increased by 3.0% in the fourth quarter, following a 4.0% gain in the previous period. For the full year 2025, GDP grew by 2.9%.