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Danish GDP falls by 0.5% in Q1 2011

06-01-2011 10:10 BJT

COPENHAGEN, May 31 (Xinhua) -- Denmark's gross domestic product (GDP) fell by 0.5 percent in the first quarter of 2011, compared to the fourth quarter of 2010, the Danish national statistical agency said on Tuesday.

The result marks a contraction in Danish GDP for two quarters in a row.

The country registered a seasonally adjusted real GDP growth of minus 0.5 percent in Q1 2011 compared to Q4 2010, which followed a 0.2-percent fall in GDP of Q4 2010 as against the previous quarter, according to data from Danmarks Statistik.

Private and public consumption, as well as investments, fell in the three months ending March 31, 2011. Both private and public sector spending declined by 0.8 percent, while gross investments fell by 8.3 percent.

Having registered two successive quarters of negative growth, Denmark can be said to be officially in recession, Danish financial daily Borsen.dk commented.

However, Danish GDP grew by 1.1 percent in Q1 2011 compared to the same period last year, with the value of the first-quarter GDP standing at 427.6 billion Danish kroner (82.4 billion U.S. dollars) .

The European Union registered a roughly 0.8-percent GDP growth in Q1 2011, according to the Danish data.

 

Editor:Yang Jie |Source: Xinhua

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