Thousands of new jobs and economic growth coming this year and next, the Confederation of Danish Industry says. Photo: Simon Skipper/Scanpix
The Confederation of Danish Industry (DI) released an economic prognosis Friday that calls for “significantly better developments” over the next two years.
“This year and next year, the outlook is for more normal growth rates in the Danish economy at about 1.5 percent. With that, we expect significantly better developments that we have had in a long time,” DI’s prognosis states.
DI predicts the creation of 32,000 new jobs in the private sector, with the number of unemployed dropping by 10,000 this year and even more in 2016.
By the end of 2016, DI predicts that the national unemployment rate will be down to 3.9 percent.
Consumers, meanwhile, will continue to benefit from the low interest rates that have led to a rash of ‘super loans’ and falling oil prices that earlier this month led to the first drop in Danish consumer prices since 1954.
“There is a tailwind for consumer spending from all directions at the outset of the present year. Real wages are strongly increasing as a result of falling consumer prices, employment continues to increase and interest rates are at all-time lows,” DI writes.