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Unexpected  large fall in Danish GDP

Wednesday, 29 August 2012
Denmark's gross domestic product fell 0.5 percent in the second quarter compared with the previous quarter. Compared with the same quarter last year, GDP fell by 0.9 percent.

According to preliminary expectations, GDP was expected to have dropped 0.2 percent compared with the previous quarter and a decline of 0.2 percent compared with the same quarter last year.

The Danish government which has been under pressure for a long time now will see this as another bitter pill to swallow.

The fall is observed in both the private and public investment is being explained by analysts as the that government kick start approaches have not been good.

Chief economist, Jacob Graven of Sydbank, believes that the new GDP figures are serious for the government's economic aspirations.
"With the weak growth figures for the second quarter, the government's new forecast for the Danish economy almost seems to be wishful thinking," says Jacob Graven.
He expects GDP both this year and next year to grow half as fast as the government expects.
by Scancomark.se Team




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