Denmark's central bank on Wednesday lowered its GDP forecasts for 2025–2027, citing the negative impact of US trade tariffs and weaker growth in the pharmaceuticals industry amid rising international competition. The Danish economy is now expected to grow by 2.0% in both 2025 and 2026, down from the previous projections in June of 3.6% and 2.3%, respectively. GDP growth in 2027 is estimated at 1.7%, revised down from 2.0%. Novo Nordisk, the maker of the blockbuster drug Wegovy, has had a difficult year marked by stalled sales growth, profit warnings, and a USD 400 billion plunge in market value, which led to the layoff of around 9,000 employees - more than half of them in Denmark, as Reuters reported. Preliminary data from Statistics Denmark showed that the economy expanded by 1.9% in the second quarter of 2025, easing from a 2.5% increase in the previous quarter.