Denmark’s Bernstein optimistic on consumption-led recovery

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Nils Bernstein, the governor of the National Bank of Denmark, on Thursday said private sector savings in Denmark, the highest since World War II, reflected a solid consolidation by households and companies in the wake of the financial crisis.

At the publication of the central bank's Monetary Review for the second quarter of 2011, Bernstein said: "No one can say for certain when the turnaround in consumption and investment will occur, but the large savings surplus in the private sector

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