Denmark: a resilient economy

Denmark also experienced weakening economic growth last year. Real GDP expanded by only ca. 1¼%. The labour market situation also deteriorated somewhat, with average annual unemployment at 4½%. Prices increased over the year by 2.3%. In 2002 GDP will grow by about 1½%, stimulated by economic policy and the recovery of the world economy. On the labour market the situation will not change appreciably. Consumer prices will be about 1¾% above the level of 2001. In 2003 the upswing will continue at about the same pace, with economic growth increasing by 2¼%. On the labour market the situation will improve, and employment will increase again clearly. Inflation will stand at nearly 2%.