* Q4 GDP revised to -0.7 pct Q/Q from previously -0.9 pct
* Q4 GDP revised to -0.6 pct from -1.0 pct
COPENHAGEN, April 4 Denmark's economy shrank
less than initially estimated in the final quarter of 2012,
raising propects it was heading towards recovery after years of
weak private spending.
The country's gross domestic product (GDP) contracted 0.7
percent in the fourth quarter from the third, revised data from
the national statistics office showed on Thursday. Its
preliminary reading was a 0.9 percent decline.
Year-on-year, GDP shrank 0.6 percent in the fourth quarter,
revised from a 1.0 percent fall.
Denmark has struggled to recover over the past few years
after a property bubble burst following the 2008-2009 financial
crisis, denting private consumption and hurting business
Thursday's data showed personal consumption rose 0.1 percent
year-on-year in the fourth quarter, better than a previously
Danish Chamber of Commer economist Bo Sandberg said the data
showed growth was still weak, but added: "It is, however,
pleasing that it is the private sector which drives today's
revision of the GDP development."
Denmark has fared worse than its Nordic neighbours Sweden
and Norway during the crisis and is still trailing behind them
in terms of growth.
Last month, the Danish government lowered growth
expectations for the domestic economy in 2013 to 0.5-1.0 percent
from a previous forecast of 1.2 percent as a result of weak
demand from the euro zone. The central bank has also cut its
outlook for this year.