Denmark's Economy Grows 2.6% In Q4, More Than Estimated

(RTTNews) - The Danish economy expanded more than initially estimated in the final quarter of 2023, preliminary data from Statistics Denmark showed on Wednesday.

Gross domestic product advanced 2.6 percent sequentially in the December quarter, following a 0.4 percent recovery in the September quarter.

The growth rate for the fourth quarter was revised up from a 2.0 percent increase seen in the flash report, which was published on February 20.

Further, this was the strongest growth since the second quarter of 2022, when the economy had expanded 3.4 percent.

During the whole year 2023, the Danish economy expanded 1.9 percent compared with 2022. In the initial estimate, it was 1.8 percent.

Industry, trade, transport, and utilities contributed significantly to GDP growth in the fourth quarter, the agency said.

On the expenditure side, household consumption rose by 2.0 percent, while gross fixed investments dropped by 6.8 percent. Both exports and imports climbed by 7.5 percent and 2.5 percent, respectively.

On a yearly basis, the economy expanded 3.5 percent in the final quarter of 2023, revised higher from 3.1 percent.