Danish Economy Rebounds 0.6% In Q2

(RTTNews) - The Danish economy expanded in the second quarter, largely on the back of a strong contribution from the pharmaceutical industry, preliminary data from Statistics Denmark showed on Tuesday.

Gross domestic product advanced 0.6 percent sequentially in the June quarter, reversing a revised 1.0 percent fall in the first quarter.

Quarterly growth in GDP was driven by progress in industry, especially the pharmaceutical segment. Conversely, declines in trade and transport contributed to the dampening effect, the agency said.

On the expenditure side, household consumption dropped 0.3 percent, while gross fixed investments grew by 0.5 percent, spurred by diverse development across the different investment types. Both exports and imports climbed by 1.8 percent and 0.2 percent, respectively.

On a yearly basis, the economy expanded 2.5 percent in the second quarter, versus an expected increase of 1.4 percent.