Denmark out of recession

| 2 September 2008 03:00

The Danish economy has officially left recession, marking a growth rate of 0.6% for the second quarter of this year. In the midst of much doom and gloom for the eurozone, this is a positive development. More news expected.

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This translation from El Pais is the best story I have found on this topic:

It was the first to enter and also seems to be the first to leave. The Danish economy has left the technical recession after two quarters as the Gross Domestic Product (GDP) grew by 0.6% between April and June this year, according to official figures released today.

This increase reverses the negative trend of the previous two quarters, leading to the entry into technical recession, the first detected in an EU country this year. GDP had fallen by 0.8% in the first quarter of 2008. The second part of the year was marked by moderate growth in domestic demand and a reduction of foreign trade.
-El Pais, 1 Sep 2008

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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty years of business experience. He is also a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages, a skill he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

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