The third quarter of 2009 showed a slight 0.6 percent improvement in Danish GDP, according to the latest figures from Statistics Denmark, which showed that the improvement was driven by public and private consumption.

In a comment on the figures, Danske Bank’s Chief Economist Steen Bocian says that the positive developments mean that Denmark is technically out of recession.

“The Danish economy is thus in line with the economic development in most of the other countries we compare ourselves with. The growth in the euro countries was 0.4 percent in Q3, while growth in Sweden was at 0.2 percent,” Bocian says.

Consumption
Private consumption helped advances – rising 0.5 percent in Q3, public consumption grew by 0.5 percent. Exports of goods and services rose 0.9 percent while imports grew by 0.6 percent.