Denmark’s economy contracted less than initially estimated in the three months ended September, latest figures from Statistics Denmark showed Friday.
Gross domestic product declined a seasonally and price adjusted 0.5 percent sequentially in the third quarter, revised from a 0.6 percent fall reported earlier.
This was followed by a 0.6 percent expansion in the second quarter.
The economy contacted for the first time in two years.
The economic downturn in the third quarter was mainly due to a decline in household consumption, where purchases of vehicles fell sharply.
On a yearly basis, the rate of growth for the economy in the third quarter was 1.5 percent, faster than the 1.3 percent rise seen in the flash report.
The material has been provided by InstaForex Company – www.instaforex.com
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