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February 28, 2006
Danish central bank says overheating main risk to economy
That is what Reuters has reported today:
COPENHAGEN, Feb 28 (Reuters) - Denmark's central bank said on Tuesday the outlook for the Danish economy was positive but warned that the main risk was overheating, which could derail the upswing."The main challenge in the short term is to ensure that the strong growth is not derailed and leads to an overheating of the economy," the central bank said in its quarterly report.
Even if it is early to estimate the impact of the boycott (and the counter-boycott, do not forget: Buy Danish!), I do not think its effect is going to be dramatic. Some additional data:
Denmark's GDP rose 4.8 percent year-on-year in the third quarter, the highest rise in a decade.The Danish unemployment fell in December to 5.1 percent, the lowest level in four years.
Public accounts are in order: Nice superavit, low public debt (Spanish).
Which is the problem then? Labour shortage. The restrictive immigration policy has its consequences:
The bank said it was urgent to increase the workforce to avoid a tight labour market leading to upward wage pressure. It said the number of bottlenecks had increased in the past year and in particular in the financial sector wages, they seemed to have risen significantly.
Still, I think Mohammedans are no use in banking business.
Posted by at February 28, 2006 2:07 PM
