Danish Economy Shrinks More Than Estimated as Spending Drops

Denmark’s economy shrank more than most economists estimated last quarter as household spending declined and investments sank.

Gross domestic product contracted 0.5 percent from the first quarter and 0.9 percent from a year earlier, the Copenhagen-based statistics office said in a statement on its website today. Output was seen shrinking 0.2 percent, both on the quarter and on the year, according to a Bloomberg survey of five economists. Private spending shrank a quarterly 0.9 percent while fixed investments dropped 4.2 percent, it said.