FX.co ★ Danish Q4 GDP Growth Revised Higher

In the final quarter of 2024, Denmark's economy experienced a 1.8% quarter-on-quarter increase, surpassing the initial projection of 1.6%. This follows a 1.2% growth in the previous quarter, marking the third consecutive quarter of expansion and representing the strongest growth since early 2023. The surge was largely fueled by the pharmaceutical sector. Household consumption rose to 0.7%, a notable increase from 0.3%, and government expenditure also saw a boost, climbing to 1.6% from 0.5%. Moreover, there was a substantial rise in fixed investments, which jumped by 10.1% compared to a previous 2.3%. This increase was notably bolstered by a surge in investments in intellectual property rights, which soared by 32.4% after a previous decline of 0.2%, and investments in machinery and transportation, which grew by 9.9% from 3.7%. However, the net external demand negatively impacted the GDP, as imports rose by 4%, outpacing the 3.4% growth in exports. On an annualized basis, GDP in the December quarter grew by 4.4%, exceeding the earlier estimate of 4.1% and following a 3.7% increase in the preceding quarter. Over the entire year of 2024, Denmark's GDP saw an overall growth of 3.7%.