The Danish economy is recovering after some difficult years. Admittedly, the most recent figures show a small decline in GDP in the 2nd quarter, but viewed in a larger context, activity has grown since the end of 2012. It is important to stay focused on the underlying trend and not to become hypnotised by quarter-on-quarter fluctuations.
Decreasing North Sea oil output is reducing overall production these years. If this factor is disregarded, value added in the Danish economy is now 2 per cent higher than in 2012 – and rising. The increase in activity has also been reflected in the labour market, where employment has been picking up over the last year or so.