Macro - Country Economic Forecasts - Denmark

Macro - Country Economic Forecasts - Denmark

We have lowered our 2023 GDP growth forecast for Denmark by 0.5ppts to 1.2%. Q2 GDP growth was revised down from a 0.3% rise to a 0.3% fall, and we suspect the economy contracted again in Q3. While this is largely down to one-off factors as household spending was affected by poor weather in July and volatile pharmaceutical production fell sharply, the backdrop for the economy remains subdued as tight financial conditions will constrain growth and regional demand is faltering.