Interpreting statistics is always tricky but today’s numbers for the Danish economy in the first quarter of 2011 were probably not what the government had hoped for. The seasonally adjusted GDP per capita shows a slight fall compared with 2010. The fall is not extraordinary if we look at developments over a 20-year period but obviously the government could have hoped for a stabilisation of Danish economy – especially as Europe and the US show a slightly different pattern. It could be a blip which will be reversed in the next quarters or it could point to continued slow growth.
The numbers for employment (the curve shows the number of employed) gives reason for more concern as Denmark sees a continued decline in employment from the climax in late 2008. There are no signs of a recovery on the labour market.
Source: Statistics Denmark.