Denmark: Lower growth not worrying – Nordea

The adverse effects from the coronavirus on the Danish economy will be noticeable but not devastating, according to the baseline scenario of analysts at Nordea. EUR/DKK is sitting at 7.472.

Key quotes

“The most direct effects on the Danish economy will come from lower exports due to lower global demand.”

“We expect the outbreak of the coronavirus to contract annual GDP growth to around 0.5 - 1.0%.”

“Compared to other European countries the expected slowdown in the Danish economy will be moderate and not the starting point of a long recession.”