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Denmark registers 1.1 pct GDP growth in 2016

Xinhua, March 1, 2017 Adjust font size:

Denmark has registered a gross domestic product (GDP) growth of 1.1 percent in 2016, lower than the EU average of 1.9 percent for the same year, local media cited Statistics Denmark as saying on Tuesday.

The growth was boosted by private consumption, which grew by 2.1 percent during the year, offsetting a slight decline in public consumption, according to the Danish news agency Ritzau.

Danske Banks chief economist Las Olsen said he had not expected a growth like this as the world economy is recovering.

Frank Oland, chief economist at Food & Agriculture, said the figure was a disappointment.

"We are falling back behind the countries we usually compare ourselves with," Oland was quoted by Ritzau as saying.

"There is talks of a recovery, but the Danish economy is still on the climb course. It is a recovery without much vigor," he said.

Olsen however noted that the country's employment continues to grow in a positive manner, while Oland called for reforms to make the Danish economy into a higher gear than now. Endit