Denmark’s economy moved out of recession at a record pace in the third quarter due to the gradual reopening of the most parts of the economy, data released by Statistics Denmark showed Friday.

Gross domestic product grew 4.9 percent sequentially, the biggest on record, after falling 6.8 percent in the second quarter and 1.6 percent in the first quarter. However, the economy was still well below the 2019 level.

The economy had entered a technical recession in the second quarter.

After falling sharply in the second quarter, trade, transport and business services provided a significant contribution to quarterly growth.

The employment indicator showed a 2.3 percent rise in employment in the third quarter.

The material has been provided by InstaForex Company – www.instaforex.com

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