Revised forecasts. Denmark’s economy could surprise
Denmark’s economy could grow by 3,7% this year, analysts from Danske Bank A/S said, after previously expecting growth of 2.7% and then 3%.
As Bloomberg notes, the bank’s forecast revision assumes Denmark could become one of the fastest-growing economies in Europe.
Data collected by the agency actually point to lower growth, with a median forecast of 2,3%.
The slowdown threatening Denmark’s economy could instead stem from the tense situation at Novo Nordisk, the Danish pharmaceutical giant, which together with the American Eli Lilly is among the largest companies in obesity and diabetes treatment.
Experts say that price pressure in the U.S. drug market, resulting from Donald Trump’s protectionist policy, and increasing competition from rivals could somewhat weaken the company’s contribution to the country’s economic growth.
“So far these concerns have not been reflected in growth data, and exports still underpin dynamic expansion. Novo Nordisk has stated that lower prices help increase drug accessibility for patients and boost sales volume,” Bloomberg emphasized.
Las Olsen, chief economist at Danske Bank, confirmed that Novo Nordisk’s export volume is driven by demand for the products offered by the company.
He added, however, that the expansion does not generate enough new jobs in Denmark, thus bringing lower income gains.
Importantly, the Danske Bank team showed prudence in formulating growth forecasts for other Scandinavian countries.
According to new estimates, Sweden’s economy will grow this year by 2,1%, not 2.8% as previously predicted.
In Norway, growth will be 1%, instead of 1.6%, while in Finland it will be 1,1%, versus the earlier forecast of 1.5%.
Source: Trading Economics.
Also read: Novo Nordisk shares sank! Double-digit drop after gloomy company announcement
See also: Novo Nordisk shares fell 27%. OpenAI partnership will support the giant’s listings?
Novo Nordisk shares fell more than 15% since the start of the year
The stock price of Novo Nordisk on Wednesday, June 3, is at 277,60 DKK.
Since the start of the year, the giant’s trading has dropped by 15,5%.
Andrzej Gwiżdż, financial markets analyst at the Port, compared Novo Nordisk and Eli Lilly in an interview with FXMAG earlier this year, assessing their growth potential on the exchange.
The expert said that in the near future the companies will benefit from rising demand for the pharmaceutical sector on the exchange.
“Long‑term growth fundamentals remain solid,” he said, highlighting factors favoring the trend, such as an aging society and a growing number of patients.
Read more in the article: Novo Nordisk or Eli Lilly? This sector “should find a place in a long‑term investment portfolio” – the expert says
Chart. Novo Nordisk stock price
Source: TradingView.
Also read: Cheap dollar and U.S. market – opportunity or trap? Expert highlighted top picks for 2026
See also: 2026 market is preparing a surprise? “Investors should ensure their portfolios are ready for a growth trend”
Source: Bloomberg.
