Denmark | Economy heats up as GDP surprises to the upside in Q3

According to the advance estimate, Q3 GDP exceeded expectations with a 2% expansion. While this figure is subject to revision, Denmark is on course for very strong growth this year after the 2.1% GDP decline in 2020.

What you will learn:

Another pickup in consumer activity is expected to have driven growth over the summer, while output in pharmaceuticals helped offset some weakness in manufacturing more broadly.
We have raised our 2021 GDP growth forecast by 0.5ppts to 5%, which will be followed by 3.3% growth in 2022.
Inflation rose further to 3% y/y in October from 2.2% in September as electricity prices soared over the month.

Topics: Europe, Inflation, Labour markets, Coronavirus, Industry, GDP, Consumer, Employment, Recovery, Nordic, Pandemic, Denmark, Covid19, Supply chain, Supply and demand, Consumer recovery, CPI inflation, Energy prices