Denmark’s Economy Shrank More Than Estimated Last Quarter
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Denmark’s economy contracted in the third quarter, after households spent less and the government cut expenditure, threatening to delay the nation’s recovery as twin housing and bank crises persist.
Gross domestic product shrank 0.8 percent from the second quarter, after growing 1.2 percent in the previous three-month period, Copenhagen-based Statistics Danmark said today. The economy contracted 0.2 percent from a year earlier, the office said. GDP was expected to shrink 0.4 percent on the quarter and remain unchanged from a year earlier, according to the median in a Bloomberg survey of seven economists.