Key View

• We at Fitch Solutions retain our bearish view on the short-term outlook for the Danish economy on the back of several downside factors, including weakening global growth momentum, high inflation and tighter monetary conditions.
• We forecast that Denmark’s real GDP will increase by 2.8% in 2022, before decelerating sharply to 1.0%

Key View

• We at Fitch Solutions forecast that Denmark will grow by 2.8% in 2022, which is still above trend but slightly below Bloomberg consensus estimate of 3.1%.
• Activity in the private sector continues to expand at a robust pace, which is positive from a growth perspective. Nevertheless, high inflation is dampening consumer confidence

Key View

• At Fitch Solutions, we have revised our STPR) score for Denmark lower as a result of the surge in inflation that followed Russia’s Invasion on Ukraine.
• However, we note that at 89.0, Denmark’s STPRI remains one of the highest among our developed market universe, indicating only low risks emanating from the political environment.

Key View

• We at Fitch Solutions have revised down our 2022 growth forecast for Denmark due to mounting headwinds following Russia’s invasion of Ukraine, and we now expect real GDP growth of 2.8%, from 3.0% previously.
• In April 2022, purchasing managers' indices illustrate still-robust momentum in the private sector, but high inflation is

Key View

• As a result of a strong quarter driven by sales of GLP-1 products, Novo Nordisk has again increased its revenue growth guidance for 2021.
• According to Novo Nordisk, the increased focus on obesity as a result of the pandemic is helping to drive the launch of new obesity medicine Wegovy (semaglutide).
• Over the medium term, we hold

Key View

• GLP-1 products, including Ozempic, Saxenda, and the recently approved Rybelsus, will continue to be Novo Nordisk’s primary growth drivers.
• Market pricing pressures and changes to healthcare funding have begun to negatively impact sales across key products.
• A currency exchange tailwind continues to boost Novo Nordisk’s reported