Economic Survey - December 2025

We are still living in turbulent times, but the Danish economy has so far defied the headwinds and has proven to be extremely robust. Other parts of the Danish economy are expected to contribute more to overall growth in 2026 and 2027. Many households have seen their purchasing power restored after the period of high inflation and are facing a further boost to their finances because of wage increases, adjustment of income transfers and tax reductions, which can be used to increase consumption. Public consumption and investment will also make sizeable contributions to aggregate demand, including through increased defence spending, although part of this will give rise to imports. The pharmaceutical industry is – despite intensified competition - expected to continue to contribute to the overall growth of the Danish economy in the coming years, but to a lesser extent than in recent years. Overall, GDP is expected to grow by 2.6 per cent this year and 2.2 per cent and 1.6 per cent respectively in 2026 and 2027. The expected growth trajectory implies that the Danish economy will remain in a moderate upswing, but with decreasing capacity pressure.