Denmark Q2 GDP Growth Revised Higher

(RTTNews) - The Danish economic growth moderated less than initially estimated in the second quarter, the latest data from Statistics Denmark showed on Wednesday.

Gross domestic product rose 0.9 percent sequentially in the second quarter, slower than the 1.7 percent rise in the first quarter. In the initial estimate, the rate of expansion was 0.3 percent.

The expenditure breakdown showed that both household and government consumption remained flat compared to the previous quarter. Meanwhile, gross fixed capital formation grew 1.5 percent, led by increased investments in intellectual property rights, other construction, and civil engineering. Both exports and imports rose by 1.5 percent and 1.8 percent, respectively.

On an annual basis, economic growth eased to 5.7 percent from 6.2 percent in the previous quarter, reflecting a cooling expansion trajectory for the Nordic nation. The second quarter growth was revised up notably from 4.6 percent.

Separate official data showed that the gross unemployment rate remained stable at 3.1 percent in August. The net jobless rate also stayed unchanged at 2.7 percent.