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Financial News: Denmark GDP Falls At Fastest Pace Since 2009

Denmark GDP Falls At Fastest Pace Since 2009

05/15/2020 - 06:48:00 (RTTNews)

(RTTNews) - The Denmark's economy shrank at the fastest pace in more than a decade in the first quarter due to the coronavirus, or Covid-19, pandemic, data from Statistics Denmark revealed Friday.

Gross domestic product fell 1.9 percent sequentially in the first quarter after expanding 0.6 percent in the fourth quarter. A similar larger fall was last reported in the second quarter of 2009.

The statistical office said the impact of the coronavirus containment measures was evident especially in transport, hotels and restaurants and culture and leisure.

Data showed that employment decreased 0.1 percent from the fourth quarter.

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