Financial News: Danish Economy Rebounds 0.6% In Q2

Danish Economy Rebounds 0.6% In Q2

08/20/2024 - 04:21:00 (RTTNews)

(RTTNews) - The Danish economy expanded in the second quarter, largely on the back of a strong contribution from the pharmaceutical industry, preliminary data from Statistics Denmark showed on Tuesday.

Gross domestic product advanced 0.6 percent sequentially in the June quarter, reversing a revised 1.0 percent fall in the first quarter.

Quarterly growth in GDP was driven by progress in industry, especially the pharmaceutical segment. Conversely, declines in trade and transport contributed to the dampening effect, the agency said.

On the expenditure side, household consumption dropped 0.3 percent, while gross fixed investments grew by 0.5 percent, spurred by diverse development across the different investment types. Both exports and imports climbed by 1.8 percent and 0.2 percent, respectively.

On a yearly basis, the economy expanded 2.5 percent in the second quarter, versus an expected increase of 1.4 percent.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Swiss Consumers More Pessimistic In August (48 min(s), 47 sec(s) ago)
(RTTNews) - Confidence among Swiss consumers remained more negative in August, survey results from ...Full Story»

U.S. Job Growth Misses Estimates In August But Unemployment Rate Dips (15 min(s), 47 sec(s) ago)
(RTTNews) - Employment in the U.S. rose by less than expected in the month of August, according to ...Full Story»

Czech Industrial Output Decline Softens; Trade Deficit Narrows (21 min(s), 13 sec(s) ago)
(RTTNews) - The Czech Republic's industrial production decreased for the fifth straight month, ...Full Story»

U.S. Employment Climbs Less Than Expected In August (28 min(s), 13 sec(s) ago)
(RTTNews) - Employment in the U.S. rose by less than expected in the month of August, according to ...Full Story»

Eurozone GDP Growth Slows In Q2 (54 min(s), 13 sec(s) ago)
(RTTNews) - Euro area economic growth rate for the second quarter was revised down as the positive ...Full Story»

France Industrial Output Falls 0.5% (01 hr(s), 21 min(s), 13 sec(s) ago)
(RTTNews) - France's industrial production decreased more-than-expected in July after reboundi ...Full Story»

Italy Retail Sales Rebound 0.5% (02 hr(s), 08 min(s), 13 sec(s) ago)
(RTTNews) - Italy's retail sales increased more-than expected in July after falling in the pre ...Full Story»

French Trade Gap Narrows In July (02 hr(s), 39 min(s), 13 sec(s) ago)
(RTTNews) - France's trade deficit decreased in July from a year ago as imports fell faster th ...Full Story»