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Financial News: Denmark Growth Improves In Q1

Denmark Growth Improves In Q1

05/31/2017 - 03:19:00 (RTTNews)

(RTTNews) - Denmark's economic growth momentum improved in the first quarter of the year despite a decline in investment as trade extended support with a fall in imports, preliminary figures from Statistics Denmark showed Wednesday.

Gross domestic product grew 0.6 percent from the fourth quarter of 2016, when the economy expanded 0.5 percent.

Imports decreased 1.6 percent and exports fell 0.9 percent. Gross fixed capital formation declined 2.7 percent, largely due to a drop in investment in machinery and transport equipment.

Consumption grew just 0.3 percent and was mainly driven by the purchase of vehicles and energy consumption.

On a year-on-year basis, GDP rose 2.2 percent in the first quarter.

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