Will Economic Crisis hit Denmark?
Tuesday, 13. May 2008, 04:07:40
Experts are predicting the recession that has hit the US will be felt in Denmark starting as soon as next year.
It is apparently still true that when the US sneezes Europe catches a cold, as both the Danish Bank Nordea Bank and the International Monetary Fund believe a weakening British pound and an waning US dollar will hamper the world's economy, and Denmark will not be spared.
A new analysis indicates that several other factors have also contributed to a bleaker economic outlook for the next two years: the bottom of the Danish housing market having fallen out, American consumers are shutting their pocketbooks, an ailing stock market and rising food and fuel prices.
Nordea still predicts a growth of 1.5 percent of GNP in 2008 - and that is only half that of 2007. By 2009, the bank says growth will have slowed to 0.9 percent. Predictions from IMF are even more grim, as they forecast only a 0.6 percent growth by 2009.
The sluggish growth will be felt on the job market, as a serious increase in unemployment.
As of March 1st 2008 - Statistic Denmark's most up-to-date figures - unemployment was at an all-time low of 55,400, or just 2 percent.
*Saves a little extra for a rainy day*
It is apparently still true that when the US sneezes Europe catches a cold, as both the Danish Bank Nordea Bank and the International Monetary Fund believe a weakening British pound and an waning US dollar will hamper the world's economy, and Denmark will not be spared.
A new analysis indicates that several other factors have also contributed to a bleaker economic outlook for the next two years: the bottom of the Danish housing market having fallen out, American consumers are shutting their pocketbooks, an ailing stock market and rising food and fuel prices.
Nordea still predicts a growth of 1.5 percent of GNP in 2008 - and that is only half that of 2007. By 2009, the bank says growth will have slowed to 0.9 percent. Predictions from IMF are even more grim, as they forecast only a 0.6 percent growth by 2009.
The sluggish growth will be felt on the job market, as a serious increase in unemployment.
As of March 1st 2008 - Statistic Denmark's most up-to-date figures - unemployment was at an all-time low of 55,400, or just 2 percent.
*Saves a little extra for a rainy day*
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(42%)
I can`t even remember times when we didn`t have big economic crises - maybe some 25-30years ago. When it became rude (1993), having money out of banks and saving it in cash in solid currency, was a keypoint of survival
By gdare, # 13. May 2008, 04:36:23
By Furie, # 13. May 2008, 07:05:28
By Spaggyj, # 13. May 2008, 07:15:51
By rose-marie, # 13. May 2008, 07:34:49
We will all come to Norway to visit you
*packing suitcases*
By gdare, # 13. May 2008, 08:19:57
By attilasoul, # 13. May 2008, 11:10:11
By rose-marie, # 13. May 2008, 11:27:08
By attilasoul, # 13. May 2008, 11:32:45
By rose-marie, # 13. May 2008, 11:51:50
By attilasoul, # 13. May 2008, 12:08:37
Whatever you like, just get here already
By rose-marie, # 13. May 2008, 12:15:49
By Cois, # 13. May 2008, 12:43:12
Yes Cois, shoes again, because it's too warm to talk about the boots.
By attilasoul, # 13. May 2008, 13:13:49
By rose-marie, # 13. May 2008, 13:27:32
By attilasoul, # 13. May 2008, 13:29:54
By rose-marie, # 13. May 2008, 13:50:06
I better go find a new pair soon, before it's too late.
By attilasoul, # 13. May 2008, 13:57:05
By rose-marie, # 13. May 2008, 15:39:25
By Cois, # 14. May 2008, 00:30:13
By rose-marie, # 14. May 2008, 07:31:55
By Furie, # 14. May 2008, 07:58:59
True, you did
By gdare, # 14. May 2008, 19:59:00
By Cois, # 14. May 2008, 20:05:51
....'GUMBOOTS'....
...
By AOTEAROAnz, # 17. May 2008, 04:58:37
By attilasoul, # 17. May 2008, 05:00:33
By wickedlizard, # 18. May 2008, 12:21:57
By attilasoul, # 18. May 2008, 12:33:13
Its an election year and let any party for get about the people and they will be history... Many families with 3 or more children are really hurting as they cannot take a price-hike so steep..Home owners 'geared to the hilt' loosing everything, but they shouldn't have geared the way they did. Its the families with one home that i worry about, interest rates go up, lending begins to slow..these people are left with no real choice but to sell at what they can get. In some cases there has been a house-price drop of 25,000 to 60 even 80,000 off the government evaluation..!Rediculous!
Yes, none of this is funny and it will get worse. The economists speak of 'ebb and flow'....I see way more ebb and way less flow at least over the next 18 mths.
...POWER to the PEOPLE...
Excuse me...a moment of clarity..
By AOTEAROAnz, # 18. May 2008, 15:05:24
By theoddbod, # 22. May 2008, 08:40:56