COPENHAGEN: Denmark’s markets were disappointed as GDP dropped in the third quarter of 2015 after witnessing eight consecutive quarters of growth. With exports performing weakly, the country’s GDP contracted 1% over the quarter. Considering the length and depth of the contraction in the country’s economic growth, recovery is not expected to be robust.
With new jobs being created by the end of 2017, employment is expected to increase to 60,000, in line with the previous print.
“Monetary policy is unlikely to be tightened significantly before late 2017, hence the need to use fiscal policy – and also to monitor whether the announced tightening is actually implemented and whether there might be a need for further tightening or indeed easing, as there are both upside and downside risks to the economy in the coming years.”
