
Macro - Country Economic Forecasts - Denmark
Description
Macro - Country Economic Forecasts - Denmark
We have raised our 2022 GDP growth forecast for Denmark by 0.5ppts to 2.7% after national accounts showed a stronger H1 performance. However, we have cut our 2023 forecast by 0.4ppts to 0.1%, and we now believe the Danish economy is set to contract for three consecutive quarters. We expect a less frontloaded recession than previously, with GDP falling by 0.3%-0.4% q/q in each quarter and recovering only gradually once inflation has fallen back. Faster monetary policy tightening, higher inflation, and weaker external demand are behind our downward revisions.
We have raised our 2022 GDP growth forecast for Denmark by 0.5ppts to 2.7% after national accounts showed a stronger H1 performance. However, we have cut our 2023 forecast by 0.4ppts to 0.1%, and we now believe the Danish economy is set to contract for three consecutive quarters. We expect a less frontloaded recession than previously, with GDP falling by 0.3%-0.4% q/q in each quarter and recovering only gradually once inflation has fallen back. Faster monetary policy tightening, higher inflation, and weaker external demand are behind our downward revisions.
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