Today’s news / Denmark’s Q2 growth beats estimates
The contribution of the pharmaceutical industry to the growth of the Danish economy has increased in recent years, according to figures from Statistics Denmark. (Archive photo). Photo: Søren Bidstrup/Ritzau Scanpix

Denmark’s Q2 growth beats estimates

Denmark’s GDP grew by 1.1% in the second quarter versus the first quarter, an adjustment of 0.5 percentage points higher than initial estimates. Growth for the first quarter was also revised upwards by 0.2 percentage points to 1.0%. This improvement is attributed to increased tourism, exports, and investments, significantly driven by the pharmaceutical industry. However, private consumption declined by 0.4% in the first half of the year. Economists like Allan Sørensen and Jeppe Juul Borre suggest a future rise in private consumption due to high employment and wage increases. Despite this optimism, concerns about the accuracy of GDP estimates persist due to price volatility and discrepancies in pharmaceutical production, with a reported margin of error at plus or minus 0.5 percentage points.