Denmark unexpectedly slid back into recession in the first quarter, casting the Nordic nation firmly into the camp of Europe's economic laggards as consumers and the government cut back on spending.
GDP shrank 0.5 percent compared with the fourth quarter of 2010, its second straight quarterly contraction, Statistics Denmark said -- just a day after the government raised its growth forecast for this year and two weeks after the independent Economic Council of "wise men" did the same.
The central bank brushed off the decline as a temporary blip.
For more: Denmark dips back into recession, joins EU laggards-UPDATE 3 17:21 Hours ago
No comments:
Post a Comment