Denmark’s economy expanded by 1.3% quarter-on-quarter in the second quarter of 2025, recovering from a 1.3% contraction in the first quarter, according to a preliminary estimate. The growth was largely driven by the pharmaceutical industry. Additionally, government spending rebounded (0.8% vs -1.6%), while net external demand also made a positive contribution, as exports growth (4.0% vs -4.0%) outpaced imports (2.0% vs -5.9%). Fixed investment continued to fall but at a much softer pace (-0.3% vs -13.5%), supported by increases in investment in other construction and engineering (1.4% vs -1.7%) and machinery, means of transport, etc. (3.4% vs -7.4%). In contrast, household spending slowed down (0.5% vs 0.8%). On a yearly basis, GDP grew by 1.9%, easing from a 2.3% rise in the previous quarter.