COPENHAGEN: The Danish economy advanced 0.7 percent on quarter in the first three months of 2016, rebounding from a revised 0.2 percent contraction in the previous period and above a preliminary reading of 0.5 percent. It is the first expansion in three quarters and the highest growth rate in 1-1/2-year, final figures showed. Household consumption (up 0.7 percent compared to 0.4 percent in Q4) grew at a faster pace; government spending rebounded (up 0.8 percent compared to -0.7 percent in Q4) while gross fixed capital formation slowed (up 0.4 percent compared to 1.5 percent in Q4). In addition, exports posted the first gain in one year (up 0.7 percent after being flat in Q4) and imports stalled (0.9 percent in Q4). Year-on-year, the economy advanced 0.3 percent, better than a downwardly revised 0.1 percent growth in the previous period but below 0.6 percent in the preliminary estimate. GDP Growth Rate in Denmark averaged 0.36 percent from 1991 until 2016, reaching an all time high of 2.90 percent in the second quarter of 2006 and a record low of -2.40 percent in the fourth quarter of 2008. GDP Growth Rate in Denmark is reported by the Statistics Denmark.
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