World Economy

Danish Economy Contracts

Danish Economy ContractsDanish Economy Contracts

Denmark’s economy contracted in the third quarter as a drop in exports and stagnant domestic demand brought two years of expansion to an end, Bloomberg reported. Gross domestic product declined 0.1% from the second quarter following a 0.2% expansion in the previous period, the statistics office in Copenhagen said on Monday, citing preliminary data. Exports slipped 1.7% in the third quarter after plunging 2.9%. Household spending, which makes up close to half of Danish output, was unchanged in the three months to September after falling 0.1 percentage point.