Bright EU prognosis for Danish economy

A new report by the EU Commission predicts that 2014 could be the year the Danish economy reaches a turning point. According to the report, the Danish economy shows clear signs of improvement following the global financial crisis.

The report entitled ‘Winter 2014 forecast’ predicts that Danish gross domestic product (GDP) will increase from 0.3 percent growth in 2013 to 1.7 percent in 2014 and 1.8 percent in 2015.

According to the report, consumer confidence has improved significantly since last summer, house prices have stabilised and even increased in the largest cities, interest rates are low and there have been early signs of improvement in the labour market.

The report predicts a 0.5 percent increase in employment in 2014, as well as 2015, while unemployment figures are expected to fall from 7.0 to 6.9 percent in 2014 and to 6.7 percent in 2015.

The European Commission’s consumer survey shows that consumers have become more optimistic with regard to future developments in the labour market, with a majority now expecting falling unemployment over the next 12 months. Compared to consumers in other EU countries, Danes have been the most optimistic over the last eight months.

Here is the full economic forecast for Denmark by the EU Commission