COPENHAGEN (dpa-AFX) - The Danish economy shrank more than initially estimated in the first quarter of 2025, the latest data from Statistics Denmark showed on Monday.
Gross domestic product decreased 1.3 percent sequentially in the first quarter, reversing a downwardly revised 1.2 percent expansion in the fourth quarter. In the flash estimate, the rate of decline was 0.5 percent.
Moreover, this was the first decrease since the fourth quarter of 2022.
The gross value added in the pharmaceutical industry alone fell by 15.3 percent. Excluding the pharmaceutical industry, the overall economy grew by 0.4 percent.
The expenditure breakdown showed that gross fixed capital formation, or investments, declined sharply by 13.2 percent compared to the previous quarter, and exports showed a decline of 4.1 percent amid the large decline in pharmaceutical industry production. Public consumption expenditure fell 1.9 percent, while household consumption increased by 0.5 percent.
Compared to the same period of 2024, Denmark's economy showed an expansion of 2.3 percent in the March quarter, revised down from 3.6 percent seen in the initial estimate published on May 20.
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