Danish economic growth slowed to 0.3 percent in second quarter

Denmark's economy slowed down in the second quarter of the year. This drop could mean a tighter job market and softer consumer demand for residents. Gross domestic product grew by just 0.3 percent from April to June. That is down from 1.5 percent growth in the first quarter. Statistics Denmark reported the official quarterly figures this week.

The slowdown happened mainly because the pharmaceutical industry lost momentum. The sector drove strong growth earlier in the year. However, it did not contribute much to the second quarter figures. At the same time, household consumption dropped by 0.3 percent. Residents spent less money on everyday goods and services. The Copenhagen Post reported these latest economic figures.