Denmark: Gradual recovery on a sound economic foundation

After the economic slowdown in 2001, demand and production showed lively increases in Denmark in 2002. Real GDP increased by around 1½%. On the labour market the situation remained favourable. The unemployment rate for the year was 4¼%. The cost of living increased by around 2.4%. In 2003 real GDP will expand by around 1½%. On the labour market the situation will remain unchanged, and the unemployment rate will again stand at 4¼%. Consumer price increases will average about 2¼% for the year. In 2004 GDP will expand by around 2¼%. The unemployment rate will stand at 4% and inflation will be 2% above the 2003 level.