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Denmark GDP Falls At Fastest Pace Since 2009

The Denmark's economy shrank at the fastest pace in more than a decade in the first quarter due to the coronavirus, or Covid-19, pandemic, data from Statistics Denmark revealed Friday.

Gross domestic product fell 1.9 percent sequentially in the first quarter after expanding 0.6 percent in the fourth quarter. A similar larger fall was last reported in the second quarter of 2009.

The statistical office said the impact of the coronavirus containment measures was evident especially in transport, hotels and restaurants and culture and leisure.

Data showed that employment decreased 0.1 percent from the fourth quarter.

Another report from the statistical office showed that producer prices declined notably due to falling energy prices.

Producer prices fell 0.9 percent on a monthly basis in April and decreased 5.4 percent from the same period last year.

At the same time, import prices dropped 1.2 percent on month taking the annual fall to 3.6 percent in April.

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