Denmark Q2 GDP Expands More Than Estimated

(RTTNews) - The Danish economy expanded slightly more than estimated in the second quarter, though slower than the growth seen in the first quarter, the latest data from Statistics Denmark showed on Thursday.

Gross domestic product advanced 0.3 percent sequentially in the June quarter, following an upwardly revised 0.7 percent rise in the first quarter. In the flash report, the rate of growth for the second quarter was 0.2 percent.

Moreover, the economy grew for the third successive quarter.

The pharmaceutical industry continued to be the main driving force behind GDP growth. Besides this, sea transport and the public sector also contributed positively to the development.

On the other side, the trade sectors contributed to dampening the growth in GDP in the second quarter, the agency said.

On the expenditure side, household consumption grew 0.4 percent on the back of more car purchases and the use of services. Investment alone rose 1.4 percent, and both exports and imports increased by 2.2 percent and 2.0 percent, respectively.