Denmark’s economic outlook has been revised downward by the region’s two leading financial institutions due to dimming prospects for Novo Nordisk, the pharmaceutical leader that has driven much of the country’s recent economic expansion. Danske Bank and Nordea Bank have both adjusted their 2025 GDP growth projections for Denmark from a previously expected 3.2% to 1.8%. The revised forecasts, released in separate reports on Wednesday, reflect growing concerns over the pharmaceutical giant’s slowing momentum, which has significant implications for national output. As Novo Nordisk faces headwinds, its reduced contribution to economic activity is prompting financial analysts to reassess the broader economic trajectory of the Nordic nation. The downgrade underscores the extent to which Denmark’s growth has become tied to the performance of a single corporate entity in the health sector.
— news from Bloomberg.com
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Nordic Banks Slash Danish Growth Outlook as Novo Hits Brakes
The two largest lenders in the Nordic region slashed their forecasts for Denmarkâs economy amid weaker prospects for Novo Nordisk A/S , the pharmaceutical giant that has underpinned output growth in recent years. n nDanish gross domestic product will expand 1.8% in 2025, Danske Bank A/S and Nordea Bank Abp forecast in separate reports published on Wednesday. Both banks had previously projected 3.2% growth.