DATA SNAP: Denmark 1Q GDP -1.1% On Quarter, -4.1% On Year
DOW JONES NEWSWIRES
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
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=vtgt79XbJ%2FTpTPxxSJGGtQ%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
June 30, 2009 03:46 ET (07:46 GMT)
Copyright 2009 Dow Jones & Company, Inc.
DOW JONES NEWSWIRES
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
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=vtgt79XbJ%2FTpTPxxSJGGtQ%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
June 30, 2009 03:46 ET (07:46 GMT)
Copyright 2009 Dow Jones & Company, Inc.
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