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Danish economy on the rise, new figures indicate

Danish economy on the rise, new figures indicate

The latest figures from Statistics Denmark show there has been a 0.5 percent growth in the Danish manufacturing sector between March and April. Morten Granzau, chief economist at Dansk Industri (DI), considers this to be an important early indicator of the nation’s growing economy.

The manufacturing industry generates around 16 percent of the country’s jobs and 18 percent to the total value creation by the public and private sectors.

The DI Business report also signified a growth in industrial production and turnover — the first ‘hard’ indicators of the developing economy.

The growth will continue
Manufacturing companies plan to increase their production capacities in the coming months, resulting in a higher demand for labour and staff.

Previously, a labour shortage had caused many firms to turn down orders or to move a part of their production abroad.

EU slowdown
The European slowdown hasn’t affected Denmark, and Danish manufacturing companies continue to receive an influx of orders.

“Manufacturers in Denmark largely produce goods that are less impacted by ups and downs in the international economy, such as wind turbines, pharmaceuticals and foods,” said Granzau.

“These companies are therefore less vulnerable when growth in the European economy slows down.”