Financial News: Denmark Economy Expands 0.9% In Q4

Denmark Economy Expands 0.9% In Q4

02/28/2023 - 05:33:00 (RTTNews)

(RTTNews) - The Danish economy grew in the fourth quarter of 2022 after stagnating in the previous three months, boosted by the strong performance of the pharmaceutical industry and investments, while household consumption decreased, preliminary data from Statistics Denmark showed Tuesday.

Gross domestic product grew 0.9 percent from the previous three months. The third quarter outcome was revised to stagnation from 0.3 percent growth reported initially.

Denmark's economy had shrunk 0.7 percent in the first quarter, but GDP grew 1.3 percent in the three months to June.

For the full year 2022, the economy grew 3.6 percent.

Employment grew 0.4 percent in the fourth quarter and rose 3.9 percent for the full year.

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