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Danish economic woes continues with a shrinking GDP

Wednesday, 30 November 2011
Denmark's gross domestic product fell 0.8 percent in the third quarter, compared with the previous quarter.
Compared to the same quarter last year, GDP fell by 0.2 percent, according to preliminary data from statistic Denmark.

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Danish economy came out of the second quarter with a growth of 1.0 percent, while the first quarter gave a plus growth of 0.1.

This means that Denmark is not in technical recession, as it requires that there has been negative growth for two consecutive quarters.

In the same period last year, GDP rose 1.2 percent in the first three quarters.
Analyst forecast was that GDP was expected to have fallen 0.4 percent from the previous quarter.
By Scancomark.se Team



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