April 24, 2024

Denmark GDP: Economy Rebounds as Novo Nordisk Ramps Up Production

Denmark’s economy expanded rapidly in the fourth quarter as Novo Nordisk A/S and pharmaceutical peers ramped up production, while revised data show the Nordic country avoided a technical recession earlier in 2023.

Gross domestic product rose 2% from the previous three months, Statistics Denmark said on Tuesday in a preliminary reading for the fourth quarter. The pharmaceutical industry was the driving force behind the expansion, it said, though rising private consumption also supported growth.

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