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denmarkCOPENHAGEN: Denmark entered recession in the first quarter after its gross domestic product shrank for the second consecutive three-month period, official figures showed Tuesday.

Statistics Denmark said the economy had slipped 0.5-percent in the first quarter compared to the last quarter of 2010, according to seasonally adjusted figures.

It also revised its fourth quarter 2010 figure to a drop of 0.2 percent, compared to its previous report the economy had declined 0.4 percent during that quarter.

"There was a decline of 1.9 percent in domestic demand, where private consumption, public spending and investments fell," Statistics Denmark explained.

It added though that a boost in exports had countered the negative trend.

A nation is deemed to be in recession if the economy contracts for two consecutive quarters.

Copyright AFP (Agence France-Presse), 2011


 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln