125

News

Coronavirus Crisis impacting Danish economy less than feared

Christian Wenande
September 30th, 2020


This article is more than 4 years old.

Denmark’s 6.8 percent GDP decline in the second quarter is historic, but better than predicted 

Better than expected, but still a disaster (photo: Pixabay)

Revised figures from Danmarks Statistik have revealed that Denmark’s GDP fell by 6.8 percent in the second quarter of 2020, compared to the first, due to the Coronavirus Crisis.

And while it was the biggest quarterly GDP decline in 30 years, it’s actually better than expected – in mid-August, a 7.4 percent drop was predicted.

Despite the news, there isn’t much to celebrate, according to Anders Christian Overvad, an economist with Arbejdernes Landsbank.

“The numbers once again confirm how gigantic  and historic the decline of Denmark’s economy was in the second quarter,” Overvad said according to Erhverv+.

READ ALSO: Report: Just 60 percent of jobs lost over coronavirus to return by end of 2021

Export woe ahead
Overvad underlined that even though Denmark performed better than many other countries – the US and Germany included – in the second quarter, there’s not much to celebrate.

“The historic recession we have witnessed abroad will usher in a difficult time for Danish exports,” he said.

The massive decline in 2020 comes on the heels of a 2019 that saw a Danish GDP increase of 2.8 percent – the highest since 2016.


Share

Most popular

Subscribe to our newsletter

Sign up to receive The Daily Post

















Latest Podcast

A survey carried out by Megafon for TV2 has found that 71 percent of parents have handed over children to daycare in spite of them being sick.

Moreover, 21 percent of those surveyed admitted to medicating their kids with paracetamol, such as Panodil, before sending them to school.

The FOLA parents’ organisation is shocked by the findings.

“I think it is absolutely crazy. It simply cannot be that a child goes to school sick and plays with lots of other children. Then we are faced with the fact that they will infect the whole institution,” said FOLA chair Signe Nielsen.

Pill pushers
At the Børnehuset daycare institution in Silkeborg a meeting was called where parents were implored not to bring their sick children to school.

At Børnehuset there are fears that parents prefer to pack their kids off with a pill without informing teachers.

“We occasionally have children who that they have had a pill for breakfast,” said headteacher Susanne Bødker. “You might think that it is a Panodil more than a vitamin pill, if it is a child who has just been sick, for example.”

Parents sick and tired
Parents, when confronted, often cite pressure at work as a reason for not being able to stay at home with their children.

Many declare that they simply cannot take another day off, as they are afraid of being fired.

Allan Randrup Thomsen, a professor of virology at KU, has heavily criticised the parents’ actions, describing the current situation as a “vicious circle”.

“It promotes the spread of viruses, and it adds momentum to a cycle where parents are pressured by high levels of sick-leave. If they then choose to send the children to daycare while they are still recovering, they keep the epidemic going in daycares, and this in turn puts a greater burden on the parents.”