30.11.201705:58:00UTC+00Danish Economy Contracts In Q3

Denmark's economy contracted in the three months ended September, after expanding in the previous seven quarters, preliminary figures from Statistics Denmark showed Thursday.

Gross domestic product declined a seasonally and price adjusted 0.6 percent sequentially in the third quarter, reversing a 0.6 percent rise in the second quarter.

In the first quarter of this year, the rate of expansion was 0.7 percent.

The contraction in the third quarter was characterized by a decrease in household consumption, in particular the purchase of vehicles fell.

There was also a decline in industrial production and exports during the September quarter.

On a yearly basis, the rate of growth for the economy in the third quarter was 1.3 percent.