Danish Central Bank Cuts Outlook Amid Novo Troubles, Tariffs (1)

Denmark’s central bank cut its growth outlook as challenges at drug giant Novo Nordisk A/S and US tariffs weigh on the Scandinavian economy.

Nationalbanken now expects 2025 gross domestic product to expand 2%, from 3.6% seen in March. The cut reflects revisions to historic data, tariffs on exports to the US and lower expectations for the pharmaceuticals industry, the central bank said.

Governor Christian Kettel Thomsen in a Bloomberg interview earlier this month revealed that his institution would have to cut its forecast “quite significantly” in part due to lower growth prospects at the country’s pharmaceutical giant Novo. ...