Nationalbanken almost halves its estimate for economic growth

This is a cautious recovery, warns central bank

According to Nationalbanken, economic growth in Denmark will only be 0.8 percent in 2014, Berlingske reports.

It is significantly less than the central bank's previous estimate of 1.5 percent. 

The bank also lowered its estimate for 2015 from to 1.8  to 1.7 percent. 

A cautious recovery
Meanwhile, this year's estimate for the number of unemployed has been raised by 3,000 and the forecast for private consumption lowered from 1.6 to 1.2 percent. 

Inflation expectations for 2014 have also been adjusted to 0.4 percent from 0.6 percent, and to 1.3 from 1.6 for next year. 

Although the numbers may seem pessimistic, Nationalbanken expects the national economy to continue the cautious recovery that has been underway since 2013.