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Financial News: Denmark's GDP Growth Rev Down

Denmark's GDP Growth Rev Down

02/28/2020 - 07:19:00 (RTTNews)

(RTTNews) - Denmark's economy grew less than initially estimated in the fourth quarter, revised data from Statistics Denmark showed on Friday.

Gross domestic product grew by a seasonally adjusted 0.2 percent from the third quarter, when the economy expanded 0.5 percent. The fourth quarter growth was lowered from 0.3 percent.

On a yearly basis, the economy grew 1.8 percent in the fourth quarter.

The expenditure-side breakdown of GDP showed that household and government spending increased 1.3 percent and 0.9 percent, respectively. At the same time, gross fixed capital formation gained 0.5 percent.

Further, exports fell 0.5 percent and imports edged up 0.1 percent.

In 2019, the economy grew 2.2 percent driven by higher exports.

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