Latest news with #StatisticsDenmark
Yahoo
2 days ago
- Business
- Yahoo
Denmark Construction Industry Report 2025: Output to Register an AAGR of 4% During 2026-2029, Supported by PPI in the Development of Transport, and Renewable Energy Projects
Discover insights into Denmark's construction market with our detailed report, covering sector trends, growth forecasts, and key opportunities through 2029. Despite a 0.8% industry contraction in 2025 due to economic challenges, a 4% annual growth is predicted from 2026 to 2029, driven by public investment. Dublin, June 05, 2025 (GLOBE NEWSWIRE) -- The "Denmark Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2029 (H1 2025)" report has been added to construction industry in Denmark is estimated to contract in real terms by 0.8% in 2025, owing to high interest rates, weak investor sentiment, elevated costs of construction materials and supply chain disruption. According to Statistics Denmark, the construction cost index for road projects grew by 2.8% year on year (YoY) in 2024, preceded by annual growth of 2% in 2023. As a result, in February 2025, Danish renewable energy company, Orsted announced a 25% cut to its 2030 renewable energy investment program, adjusting its planned spending between DKK210 billion ($30.5 billion) and DKK230 billion ($33.5 billion) for 2024-30 period, down from a previous target of DKK270 billion ($39.3 billion). The decision comes amid mounting challenges in the offshore wind sector, including rising costs, supply chain disruptions, and growing political resistance and uncertainty, amid US President Donald Trump's, opposition to wind energy. The industry is expected to register an average annual growth rate of 4% from 2026 to 2029, supported by public and private sector investments in the development of transport, and renewable energy projects, coupled with government's plan to invest DKK157.6 billion ($22.8 billion) by 2035 for several transportation infrastructure projects. In line with this, in February 2025, government-owned construction companies, the Danish Road Directorate and Banedanmark announced, plan to establish a new double-track, 35km long high-speed railway from Odense West to Kauslunde east of Middelfart. The DKK4.9 billion ($712.7 million) project also includes the construction of 34 new bridges by 2028. Furthermore, in December 2025, a Danish pharmaceutical company, Novo Nordisk, announced its plan to invest DKK8.5 billion ($1.2 billion) for the construction a new production facility in Odense. The new facility and warehouse will be spanning over 40,000m2 and scheduled to be completed by Historical (2020-2024) and forecast (2025-2029) valuations of the construction industry in Denmark, featuring details of key growth drivers. Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline. Listings of major projects, in addition to details of leading contractors and consultants Reasons to Buy Identify and evaluate market opportunities using our standardized valuation and forecasting methodologies Assess market growth potential at a micro-level with over 600 time-series data forecasts Understand the latest industry and market trends Formulate and validate business strategies using the analyst's critical and actionable insight Assess business risks, including cost, regulatory and competitive pressures Evaluate competitive risk and success factors Key Topics Covered: 1 Executive Summary2 Construction Industry: At-a-Glance3 Context3.1 Economic Performance3.2 Political Environment and Policy3.3 Demographics3.4 Risk Profile4 Construction Outlook4.1 All Construction Outlook Latest news and developments Construction Projects Momentum Index 4.2 Commercial Construction Outlook Project analytics Latest news and developments 4.3 Industrial Construction Outlook Project analytics Latest news and developments 4.4 Infrastructure Construction Outlook Project analytics Latest news and developments 4.5 Energy and Utilities Construction Outlook Project analytics Latest news and developments 4.6 Institutional Construction Outlook Project analytics Latest news and developments 4.7 Residential Construction Outlook Project analytics Latest news and developments 5 Key Industry Participants5.1 Contractors5.2 Consultants6 Construction Market Data7 AppendixFor more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Yahoo
23-05-2025
- Politics
- Yahoo
Denmark raises retirement age to 70 — the highest in Europe
Denmark is set to have the highest retirement age in Europe, after lawmakers voted to raise it to 70. Parliamentarians passed a bill mandating the rise on Thursday, with 81 votes in favor and 21 against. The new law will apply to people born after December 31, 1970. The current retirement age is 67 on average, but it can go up to 69 for those born on January 1, 1967, or later. The rise is needed in order to be able to 'afford proper welfare for future generations,' employment minister Ane Halsboe-Jørgensen said in a press release Thursday. Denmark has a population of almost 6 million people, with around 713,000 between the ages of 60 and 69, and around 580,000 aged between 70 and 79, according to the official Statistics Denmark website. 'Developments in recent years clearly show a marked increase in the number of Danes who continue to work until — and beyond — the state pension age,' F&P, the Danish trade association for insurance companies and pension funds, said in a press release Friday. Approximately 80,000 people over the state pension age are currently in work in Denmark, according to F&P, which put the increase down to good economic conditions, employers being more flexible, better financial incentives and a greater desire to continue working. 'For many Danes, the idea of the state pension age increasing to 70 by 2040 may seem overwhelming,' Jan V. Hansen, the director of pensions at the association, said in the release. 'However, the figures clearly demonstrate that a growing number of Danes are remaining in employment for longer periods.' 'The good news is that many Danes not only have the health but also the desire to continue working — even after reaching the state pension age,' he continued. Denmark's socialist Red-Green Alliance, however, described the vote by 'the government and the right wing' in a post on Facebook as 'unreasonably high,' and condemned the change in light of the 'great' pension conditions enjoyed by many ministers who can retire at age 60. 'It is incomprehensible. It cannot be explained. And it cannot be defended,' Pelle Dragsted, a member of parliament for the party, said in another Facebook post, noting that teachers, scaffolders and many others in physically demanding jobs have said they cannot keep going for that long. Denmark is the first European country to set its national retirement age beyond the 60s. The move will make it one of the highest in the world, on par with Libya. In France in March 2023, more than a million people took to the streets nationwide to protest a rise in the retirement age to 64 — six years below the new Danish retirement age. In September, the Chinese government passed legislation that would see the retirement age for men raised from 60 to 63, and from 50 and 55 for women, depending on their occupation, to 55 and 58, respectively. The state pension age in the UK is set to rise to 67 between 2026 and 2028, although a review could see it revised to 68. While the retirement age in the United States is similar to the UK's, some Social Security benefits are available from age 62. Better health in old age, increased life expectancy and remote working are allowing more Americans to work into old age. However, research shows that it is often a lack of money that keeps them working longer.
Bloomberg
20-05-2025
- Business
- Bloomberg
Denmark's Economy Contracts, Dragged Down by Lower Pharma Sales
Denmark's economy shrank in the first quarter, dragged down by lower drug sales, underscoring the Nordic nation's increased dependency on its large pharmaceutical sector, which is led by Novo Nordisk A/S. Gross domestic product adjusted for seasonal swings fell 0.5% last quarter compared with the previous three-month period, the worst performance since late 2022, Statistics Denmark said on Tuesday. When excluding effects from the drug industry, the economy added 1% in gross value in the period.
Bloomberg
22-04-2025
- Business
- Bloomberg
Trump's Tariffs Drag Danish Consumer Confidence to 2-Year Low
Danish consumer sentiment tumbled to its lowest level in two years as fresh US tariffs fueled pessimism for the export-driven Nordic economy. The consumer confidence index fell to minus 17 in April from minus 15.5 in March, weighed down mainly by deteriorating expectations for the national economy a year from now, Statistics Denmark said on Tuesday. It marked the third straight monthly decline and the weakest reading since April 2023.
Reuters
27-02-2025
- Business
- Reuters
Denmark on track to hit 2030 emissions cuts goal, council says
COPENHAGEN, Feb 27 (Reuters) - Denmark remains on course to meet its 2030 target of slashing its territorial greenhouse gas emissions by 70% from 1990 levels, provided that the country delivers on its stated plans, a government-appointed council said on Thursday. Denmark's goal, launched in 2020, is one of the world's most ambitious, while other countries' pledges still fall far short of what is needed to reach their Paris Agreement targets. By 2023, the Nordic nation had reduced its greenhouse gas emissions by 46% compared 1990, according to Statistics Denmark. "This is a success story in a world of gloomy climate news," the Danish Council on Climate Change said in its annual report on Thursday. However, it said "there is still a significant risk of missing the target and significant implementation efforts are still needed to reach the goal." Denmark's goal for 2025 is to raise its accumulated cuts to 50-54% from 1990 levels, and the country will "with great certainty" reach at least the lower end of this target, according to the projection. The council said the government's action plan showed that emissions would be cut "just about" 70% by 2030, but warned that uncertainty around the level of emissions in five years' time, in particular from agriculture and industry, caused some risk. It is therefore important that the government revisits its plans regularly until 2030 as agreed, and adjusts them if necessary, it added. Denmark's government by the end of this year plans to agree on climate targets for 2035, which the climate change council said must put the country on path for its existing 2045 goal of net-zero emissions. Denmark in November became the first country worldwide to pass a law that will put a CO2 tax on livestock carbon dioxide emissions from 2030 -- a regulation that will be key in helping it achieve its targets beyond the current decade. The council has previously recommended that Denmark establish emissions targets around Danes' consumption footprint and international travel by air and sea. Emissions from exported oil and gas are also not counted.
