Growth is underway
18 February 2012
Several indications point towards improvements in the Danish economy, writes the Berlingske Tidende daily newspaper.
We are facing an upswing in the Danish economy. Higher consumption, plenty of new jobs and increases in growth is the encouraging message from Kai Lindberg, Chief Economist at Lån & Spar Bank.
He presents a number of figures and recent quantitative statements that support his forecasts.
- If we disregard a few specific ratios such as the remittance of due tax, our national finances have improved significantly. This indicates that growth has been stimulated and that both consumption and employment are developing more quickly than expected, says Kai Lindberg.
He adds that exports are doing remarkably as well. Figures for export demand rose 25 percent between November and December 2011.
- This is a sign of improvement in Germany and the US as well. Meanwhile, Danish competitiveness has increased compared with Sweden, Norway, the US and the UK due to the Danish kroner being strengthened by the euro. We are also benefitting from the fact that many southern European companies are having difficulty obtaining loans and capital. This gives Danish firms a head start as they can secure financing at a much lower interest rate in Denmark, explains Kai Lindberg.
According to Danish Statistics, industrial production rose 5.6 percent in December as well. This marks the highest rate of production in three years.