Argentum

Macroeconomic outlook 2016-2018

Year

GDP*

Unemployment** Consumer spending* Exports*

Inflation*

Public debt***

Denmark 2016

1.7

4.2 4.4 4.3

2.1 1.9 2.3

2.5 5.0 2.8 3.3 4.5 3.3

0.3

37.7 35.6 34.4 89.2 88.8 88.5

2017 2018

2.4 2.0

1.1 1.1

Eurozone 2016

1.8 2.1 1.5

10.0

2.0

0.2

2017 2018

9.1

1.7 1.3

1.5

8.5

1.1

*) Growth (% y/y) **) % of workforce

***) % of GDP Sources: Danske Bank, Eurostat and Statistics Denmark

Consumer spending growth (y/y), Denmark vs. eurozone

GDP growth (y/y), Denmark vs. eurozone

PROJECT ARGENTUM

3%

4%

2%

2%

1%

0%

0%

-1%

-2%

-2%

-4%

-3%

-6%

-4%

08 09 10 11

12 13 14 15 16 E17 E18

08 09 10 11

12 13 14 15 16 E17 E18

Denmark

Eurozone

Denmark

Eurozone

Sources: Eurostat and Danske Bank

Sources: Eurostat and Statistics Denmark

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