Nykredit expects significantly lower growth in the Danish economy this year than previously expected. In a forecast, the bank's chief economist, Palle Sørensen, writes that Nykredit now expects Denmark's GDP to grow by 0.9 percent this year, compared to the previously expected 3.5 percent.
The reason for the significant downward adjustment is, among other things, that the decline in the first quarter has turned out to be greater than initially assumed. At the end of June, Statistics Denmark published revised national accounts, in which GDP fell by 1.3 percent in the first quarter.
- Fundamentally, the picture of the Danish economy, which has run away from everything and everyone in recent years, is cracked - growth may have been much lower than we thought. And looking ahead, the prospects remain gloomy, Palle Sørensen writes in a comment.
Gross domestic product is an expression of the size of a country's economy and is the most widely used key figure to measure it. Increases or decreases show whether the economy is growing or shrinking. In the first edition of the national accounts, which was published in May, the decline in GDP was calculated at 0.5 percent. This was thus a downward adjustment of 0.8 percentage points.
At the same time, Statistics Denmark published revised national accounts for the years 2021 to 2024. The overall growth in the Danish economy for the years 2021 to 2024 is now calculated at 11.4 percent compared to the previous 15.9 percent. Growth was adjusted downward, especially in 2022 and 2023.
/ritzau/
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