Tuesday 30 June 2009

DATA SNAP: Denmark 1Q GDP -1.1% On Quarter, -4.1% On Year

DATA SNAP: Denmark 1Q GDP -1.1% On Quarter, -4.1% On Year


Denmark's economy continued to contract in the early part of this year as private consumption remained in a slump, data showed Tuesday.

The country's gross domestic product in the first quarter fell a seasonally adjusted 1.1% compared with the previous quarter and was 4.1% lower than the first quarter of 2008, Statistics Denmark said.

Private consumption was 2.3% lower on a quarterly basis, while public consumption fell 0.1%. Exports were down 1.6%, while imports dropped off by 4.2%.

The first-quarter figures extend the downward trend in the Danish economy, with GDP down 2% quarter-on-quarter in the fourth quarter and 0.9% in the third quarter.

The Scandinavian country is suffering from a down-turning housing market and from weaker global export demand.

Agency Web site: www.dst.dk

-By Joel Sherwood, Dow Jones Newswires, +46 85 45 13 092, joel.sherwood@dowjones.com

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(END) Dow Jones Newswires

June 30, 2009 03:46 ET (07:46 GMT)

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