Denmark’s economy expanded 1.9% quarter-on-quarter in the first quarter of 2026 from a revised 0.5% in the previous period, according to preliminary estimates. The growth was driven by a strong improvement in the manufacturing sector, particularly supported by the pharmaceutical industry. Net external demand contributed positively as both exports (3.8% vs -0.3% in Q4) and imports (0.3% vs -0.7%) recovered. Private consumption also strengthened, with household spending rising (1.2% vs 0.7%) and total private consumption increasing (1.1% vs 0.7%). In contrast, government spending declined (-3.8% vs 5.1%), as well as for fixed investment (-3.5% vs 1.2%), weighed down by other building and construction (-6.4% vs 0.2%), and machinery (-3.6% vs 6.3%). On a yearly basis, GDP grew 5.9% in Q1 from 3.1% in the preceding period, marking the highest level since Q4 2021.