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ECONOMY

Danish economy figures revised: Corona damage less severe than feared

Denmark’s economy shrank by 6.8 percent in the second quarter of 2020 in comparison with the first quarter, according to revised figures from Statistics Denmark.

Danish economy figures revised: Corona damage less severe than feared
Photo: Kristian Djurhuus/Ritzau Scanpix

The economic downturn, although still historically large, is therefore less than previous estimates had projected.

In August, a preliminary calculation of the second-quarter GDP has it as falling by 7.4 percent on Q1. This was later revised to 6.9 percent and has now been reduced further.

GDP is one of the main indicators of the health of the national economy. The numbers are regularly revised as more data becomes available as to economic development.

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Finance minister Nicolai Wammen said that the Danish economy has nevertheless been hard hit by the coronavirus.

“Not least, we can see that export compared to last year has been reduced by almost one fifth,” he said.

Some positive signs, including new unemployment figures which show a five percent reduction in unemployment in August, allowed Wammen to also sound some optimistic notes.

“Although we are heading the right way, there is still a lot of uncertainty. Corona is still amongst us and affecting both Danish and international economy,” he said.

 

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SAS

‘We agree to disagree’: Still no progress in marathon SAS strike talks

By lunchtime on Friday, talks between the Scandinavian airline SAS and unions representing striking pilots were still stuck on "difficult issues".

'We agree to disagree': Still no progress in marathon SAS strike talks

“We agree that we disagree,” Roger Klokset, from the Norwegian pilots’ union, said at lunchtime outside the headquarters of the Confederation of Swedish Enterprise in Stockholm, where talks are taking place. “We are still working to find a solution, and so long as there is still some point in continuing negotiations, we will do that.” 

Mats Ruland, a mediator for the Norwegian government, said that there were “still several difficult issues which need to be solved”. 

At 1pm on Friday, the two sides took a short break from the talks for lunch, after starting at 9am. On Thursday, they negotiated for 15 hours, breaking off at 1am on Friday morning. 

READ ALSO: What’s the latest on the SAS plane strike?

Marianne Hernæs, SAS’s negotiator on Friday told journalists she was tired after sitting at the negotiating table long into the night. 

“We need to find a model where we can meet in the middle and which can ensure that we pull in the income that we are dependent on,” she said. 

Klokset said that there was “a good atmosphere” in the talks, and that the unions were sticking together to represent their members.

“I think we’ve been extremely flexible so far. It’s ‘out of this world’,’ said Henrik Thyregod, with the Danish pilots’ union. 

“This could have been solved back in December if SAS had not made unreasonable demands on the pilots,” Klokset added. 

The strike, which is now in its 12th day, has cost SAS up to 130m kronor a day, with 2,550 flights cancelled by Thursday, affecting 270,000 passengers. 

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