COPENHAGEN (dpa-AFX) - The Danish economy rebounded in the second quarter on the back of strong growth in the pharmaceutical industry, a flash estimate from Statistics Denmark showed on Wednesday.
Gross domestic product rose 1.3 percent sequentially in the second quarter, reversing a 1.3 percent decline in the first quarter, which was the first decrease since the fourth quarter of 2023.
In addition to the pharmaceutical industry, there were particularly positive growth contributions from public production and raw material extraction due to increased oil extraction, the agency said.
The expenditure breakdown showed that household consumption rose 0.5 percent, and public consumption was 0.8 percent higher. Both exports and imports grew by 4.0 percent and 2.0 percent, respectively, compared to the first quarter.
Meanwhile, gross fixed capital formation dropped 0.3 percent amid a decline in investments in intellectual property rights, housing construction, and construction.
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