Denmark cuts growth outlook

Denmark’s government cut its growth forecasts for this year and next as Scandinavia’s smallest economy struggles to cope with international headwinds exacerbated by Britain’s decision to leave the European Union.

Gross domestic product will expand 0.9 per cent in 2016, compared with a May forecast for 1.1 per cent, according to government documents seen by Bloomberg. GDP in 2017 will grow 1.5 per cent, versus the 1.7 per cent predicted just three months ago. The revised outlook is due to be published on Tuesday in Copenhagen.