Private consumption dropping in Denmark
Denmark has been hit very hard by the international recession. Private consumption has dropped rapidly. Car sales are hit especially hard. The Danish newspaper Politiken writes:
Car sales are generally a good indicator of whether people are hanging on to their money; In the fourth quarter of 2008 car sales dropped no less than 23.8 percent. Other goods dropped 1.1 percent.
The new figures come the day after new unemployment figures showed an increase for the fourth month in a row. January jobless figures showed an increase of 5,000 with unemployment now at 2.3 percent.
The Danish GDP for the year 2008 as a whole is negative. And, as yet, there a few signs that the drop in the Danish economy is declining.
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