67397
Businesses in the export-driven economy have seen an increase in orders.
Businesses in the export-driven economy have seen an increase in orders.

Denmark Facing Labor Shortage

Denmark Facing Labor Shortage

The Danish economy performed better than expected in the first quarter and last year, revised figures showed on Friday, highlighting the need for reforms to avoid labor shortages, business lobby groups said.
Denmark’s gross domestic product grew 2.6% in the first quarter from the same quarter last year, up from a May reading of 2.2%, outpacing growth in the eurozone and in the United States, Reuters reported.
Economic growth in 2016 was also revised up to 1.7% from 1.3%, putting last year’s growth almost in line with the two previous years.
Businesses in the export-driven economy have seen an increase in orders, but about a quarter of companies surveyed by the Confederation of Danish Industry said they had lost sales or orders because they could not recruit enough employees.
“This means focus should be on avoiding overheating the economy. That requires both a tight fiscal policy and reforms to extend the growth potential for the economy,” said chief economist Steen Bocian at The Confederation of Danish Enterprise, another lobby group. “As reforms take time to implement, now is the time to react,” he said.
More than every third company has unsuccessfully tried to recruit employees within the past year, the survey of 3,335 companies showed on Friday.
Denmark’s right-leaning government is seeking to entice people into work through pension reforms and tax cuts but it may prove difficult to persuade its powerful ally, the Danish People’s Party, to back its plans.
The government said last month it expected growth this year to be around 1.7%, up from an earlier forecast of 1.5%, but said it wanted to implement reforms that could boost the rate to 2% per year.

 

Short URL : https://goo.gl/Qqmphz
  1. https://goo.gl/TgXGW8
  • https://goo.gl/3BR7H9
  • https://goo.gl/eaaHkA
  • https://goo.gl/wR8xba
  • https://goo.gl/dvGH2u

You can also read ...

According to the new regulations, Cubans will be able to hold only one business license.
The Cuban government has said it wants more foreign investment...
The lira has lost around 45% of its value against the US currency this year, largely over worries about Erdogan’s influence over the economy
Turkey’s central bank on Monday announced it was ready to take...
World Stocks, Currencies Plummet
World markets shuddered on Monday, as Turkey’s worsening...
Trump’s No-Win Trade War
President Donald Trump’s trade war may be fated to fail, for...
Amado Boudou (R) attends his trial on corruption charges  in Buenos Aires on August 7.
Records kept in notebooks of the kinds used by schoolchildren...
China Printing Foreign Money
China is printing more foreign money as it seeks to expand its...
(P)GCC Banks  Face Business Risks
A number of (Persian) Gulf Cooperation Council banks that have...
Singapore Warns Trade Tensions May Lower H2 Growth
Singapore authorities warned of slower economic growth in the...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus