Macro - Country Economic Forecasts - Denmark

Macro - Country Economic Forecasts - Denmark

We now expect Denmark to enter a shallow recession in Q3 this year, ending in Q1 2023, due to rising energy costs, exhausted reopening tailwinds, and tightening financial conditions. We have cut our GDP growth forecasts by 1.2ppts to 2.3% in 2022 and by 0.7ppts to 0.5% in 2023. Beyond 2023, it will take several years for GDP to return to our previous baseline. Government subsidies for energy bills will provide some relief for the poorest consumers, while the relative insulation of the Nordic electricity market is preventing even sharper rises in electricity prices.

Denmark: GDP growth downgraded as winter Recession looms large
Forecast overview
Recent developments
Short-term outlook
Key drivers of our Short-term Forecast
Economic risk
Economic risk evaluation
risk warnings
What to watch out for
Exposure to Key global risks
Long-term prospects
Economic development
Structure of the economy
Balance of payments and Structure of trade

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