Colorful Vibrant Houses At Nyhavn Harbor In Copenhagen, Denmark
Colorful Vibrant Houses At Nyhavn Harbor In Copenhagen, Denmark

Podcast: Denmark in a solid position for a fast recovery

Denmark was one of the first countries in Europe to announce a coronavirus lockdown in early March. It was also one of the first countries to reopen its economy. So how is the economic recovery progressing? Chief Analyst Jan Størup Nielsen presents the Danish economic outlook and explains why he’s been positively surprised when it comes to private consumption and the housing market.

In this podcast, hear Chief Analyst Jan Størup Nielsen on the outlook for the Danish economy as the country gradually reopens from its coronavirus lockdown. And read more about Denmark in the latest Nordea Economic Outlook, The Road to Recovery.

Podcast summary with time stamps:

0:28: Like many countries, Denmark has been hit hard by the coronavirus. How are things currently looking both in terms of the virus and the economy?

0:57:  In the report, you write that the Danish economy is in a solid position for a fast recovery. Why is that?

3:02: How does the economic impact compare to that of the financial crisis back in 2008?

5:11: There has been some concern that even after the economy reopens, domestic demand will be slow to pick up again – as people stay home and avoid spending money. As Denmark gradually reopens, are we seeing private consumption pick up again?

7:48: The Danish government adopted massive aid packages to help businesses weather the corona storm. A key element of those has been wage compensation to encourage businesses to avoid layoffs. Have those packages worked, and what can we expect from the unemployment numbers going forward?

9:41: In the report, you note that the corona crisis has led to a huge government budget deficit. What’s the significance of that?

11:50: Finally, what can we expect when it comes to the Danish housing market?

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