Danish economy grows below estimates in third quarter

COPENHAGEN (dpa-AFX) – The Danish economy grew less than initial estimates in the third quarter, according to the latest data released on Friday by the Danish Statistics Office.

Gross domestic product grew 0.9 percent sequentially in the third quarter, following a revised 1.2 percent rebound in the second quarter. In the flash report, rate growth for the third quarter was also 1.2 percent.

The overall growth of the Danish economy was mainly driven by significant growth in industry, where the pharmaceutical industry in particular was the main driver, the agency said.

On the expenditure side, household consumption recovered by 0.1 percent and public consumption increased by 0.4 percent. Gross fixed investment rose 1.0 percent, and exports of goods and services rose 0.8 percent, driven by stronger merchandise outflows.

On an annual basis, the economy grew 3.1 percent in the third quarter, up from 3.9 percent previously.

Separate official data showed Danish consumers were more pessimistic in December. The consumer confidence index weakened to -13.1 from -9.3 in November. Moreover, this is the lowest level for the year 2024.