Danish GDP up 1 pct in 2014

Denmark's seasonally adjusted gross domestic product (GDP) increased by 0.4 percent in the fourth quarter of 2014, resulting an overall growth of 1 percent for the past year, the country's official statistical agency announced Friday.

According to Danmarks Statistik, household consumption, exports and gross fixed investment contributed positively to growth in the fourth quarter, while government consumption remained unchanged.

The Danish economy grew 1 percent for 2014, where all components of the demand contributed positively to growth, Danmarks Statistik said.

It added that the largest positive contributor to growth in 2014 was from the industry and service sectors which primarily targeted at business.

The Danish economy has registered positive GDP growth for six consecutive quarters, according to Tore Stramer, chief analyst at Nykredit, a financial services company.

He noted that the Danish economy has for the first time since 2011 attained positive growth in a calendar year.

Besides, the employment rate is now at its highest level for five years, with 30,000 Danes found a job in 2014.

Analysts here believes that the Danish economy is recovering.

"As long as the European economy won't reach an impasse, the Danish economy may seriously shake off the years of crisis in 2015," Peter Bojsen Jakobsen, a macroeconomist from Sydbank was cited by the local newspaper The Copenhagen Post as saying. Enditem