The Danish economy exhibited greater growth than initially projected in the last quarter of 2023, according to preliminary data from Statistics Denmark revealed on Wednesday.
The gross domestic product (GDP) demonstrated a sequential growth of 2.6 percent in the quarter ending in December, subsequent to a 0.4 percent recovery observed in the quarter ending in September.
The growth rate for the final quarter was adjusted upward from the provisional 2.0 percent rise specified in the preliminary report published on February 20th. Additionally, this marked the most substantial growth since the second quarter of 2022, during which the economy had expanded by 3.4 percent.
Over the entirety of 2023, the Danish economy grew by 1.9 percent in comparison with 2022 – an upward adjustment from the originally estimated 1.8 percent.
The sectors of industry, trade, transport, and utilities notably contributed to the GDP growth in the final quarter, as stated by the statistical agency.
In terms of expenditure, household consumption showed a 2.0 percent rise, notwithstanding a 6.8 percent decline in gross fixed investments. Both exports and imports respectively rose by 7.5 percent and 2.5 percent.
On an annual basis, the economy exhibited an expansion of 3.5 percent in the final quarter of 2023, adjusted upward from the initial estimate of 3.1 percent.
