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The Danish economy has regained some of its international competitiveness due to structural reforms that addressed the issue of high labour costs.

With about 55,000 business failures recorded in 2017 the number of insolvencies was still as high as during the start of the credit crisis in 2008.

Economic expansion remains broad-based, driven by private consumption and business investments, while export growth is sustained by the eurozone demand.

The Irish economy is expected to grow by about 4% in 2018, but remains exposed to ongoing economic uncertainties stemming from the Brexit decision.

Despite a forecast 10% year-on-year decrease in 2018 the number of business insolvencies will still be much higher than the levels registered in 2008.

A potential downside risk would be another deterioration in house prices, given high levels of mortgage debt and banks’ exposure to the housing market.

In 2018 and 2019 economic growth is expected to moderate somewhat but to remain robust, with private consumption and investment remaining the key drivers.

A potential downside risk to the economic performance could be the high household debt in case of sharp house price decreases and interest rate increases.

With the rebound of economic growth, business failures are expected to decrease year-on-year in 2018, but nevertheless to remain on an elevated level.

British business insolvencies are expected to rise again in 2018, mainly affecting businesses active in the construction, retail and hospitality sectors.

The global economic upswing continues to strengthen but US policy uncertainty and a potential trade war could quickly darken the bright skies.

While the return to more market friendly policies has improved Argentina´s medium- and long-term growth prospects, significant downside risks remain.

Despite a rebound, the economic environment remains challenging due to a fragile political landscape, high unemployment, and fiscal policy issues.

Since H2 of 2017 economic growth has recovered from low copper prices and lower demand from China, strikes in the mining sector and weaker domestic demand.

Since H2 of 2017 GDP growth has started to accelerate again, due to a more supportive external environment and the effects of monetary policy stimulus.

In a highly competitive and fragmented market retailers’ profit margins are expected to remain under pressure in 2018 after deteriorating in 2017.

Consumer durables are expected to continue their sales expansion in 2018, although at a lower pace than in 2017 as private consumption growth slows.

In 2018 sales are expected to be affected by slower household spending growth, triggered by a weaker housing market and subdued growth in household income.

The profit margins of Indian non-food retailers are expected to moderate in 2018 due to growing competition and the rising market share of e-commerce.

Despite good sales prospects, there remains substantial uncertainty related to VAT tax issues amongst retailers as tax controls have been intensified.