Economy not as bad as it’s cracked up to be

The latest report from four-economist panel known as the Wise Men paints a picture of an economy that is stronger than most people give it credit for.

According the panel, whose main role is to advise the government, the economy’s underlying good health is due to stronger-than-expected productivity increases since 2009.

Their report points out that while the number of goods the economy is turning out has not gone up, the value at which they can be sold abroad has increased faster than the value at which foreign goods can be sold on the Danish market.

The report also finds that Danes’ overall number of hours worked has declined eight percent since 2009. 

Output, meanwhile remained constant, indicating that employees are more productive when they are at work. Among the report’s other conclusions were that a flexible Danish economy, which makes it easy to start new businesses, promotes growth by making it less attractive to continue operating businesses in slumping industries. 

Berlingske Business

SEE RELATED: Productivity commission attacks bureaucracy