US EditionDenmark slashes 2025 growth forecast amid Novo Nordisk slowdown
Denmark cut 2025 growth forecast to 1.4% from 3% due to Novo Nordisk's reduced U.S. exports amid competition and tariffs, despite recent strong economic performance.
- Denmark has lowered its expected economic growth for 2025 from 3% down to 1.4%, mainly due to softer outlooks for pharmaceutical leader Novo Nordisk and the impact of U.S. tariffs on Danish exports.
- This revision follows Novo Nordisk's reduced sales forecasts and increased U.S. trade tariffs, which dampened export growth and affected the pharmaceutical sector.
- Denmark saw a spike in U.S. exports in late 2024, followed by a significant decline in early 2025, driven by inventory build-ups and market competition.
- The ministry noted that economic expansion at the start of 2025 fell short of earlier projections, attributing this to increased tariffs and challenges within the pharmaceutical sector.
- Despite the downgrade, Denmark's economy remains strong with high employment expected and a raised 2026 growth forecast to 2.1% based on higher consumption.
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Coverage Details
Total News Sources14
Leaning Left4Leaning Right0Center3Last UpdatedBias Distribution57% Left
Bias Distribution
- 57% of the sources lean Left
57% Left
L 57%
C 43%
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