Denmark GDP Declines 0.1% In Q1
2011-06-30 12:48:57
The Danish economy fell into recession in the first quarter, but the decline in the gross domestic product was less steeper than previously forecast, Statistics Denmark said Thursday.
The economy shrank 0.1 percent quarter-on-quarter, compared to the 0.5 percent contraction estimated initially. This follows a 0.2 percent decline in GDP in the fourth quarter of 2010.
During the period, both domestic demand and investment declined. At the same time, exports contributed positively to the aggregate demand, the statistical office said.
In the first quarter, private spending dropped 0.9 percent and government consumption fell 0.1 percent. Investment declined sharply by 7.3 percent compared to the previous quarter.