UPDATE 1-Danish current account, trade defy euro zone crisis
* Aug current account surplus at 14.3 bln DKK
* Trade surplus grows to 9.0 bln crowns
* Analysts say grounds for cautious optimism
* Private consumption, investments seen key to turnaround
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COPENHAGEN, Oct 9 (Reuters) - Denmark's current account surplus swelled to a near-record high and the trade surplus rose in August, signs its economy was holding up well in the face of recession across Europe.
Denmark is slowly recovering from its deepest economic crisis since World War Two but remains the weakest-performing economy in the Nordic region, held back by sluggish private consumption after a property bubble burst.
Its current account surplus reached 14.3 billion crowns ($2.5 billion) in August from a revised 13.1 billion crowns in July, the national statistics office said.
The seasonally adjusted trade surplus excluding ships also rose to 9.0 billion crowns in August from a revised 8.7 billion in July.
"The overall picture is that exports still are close to record levels and are still managing to grow," said Tore Stramer, an analyst at Nykredit, calling the development a positive surprise.
"We had expected a slowdown in exports due to recession in the eurozone."
Denmark's government has warned that financial turmoil in the global economy would dampen economic growth in the Nordic country. It expects growth of 0.9 percent this year before a 1.7 percent expansion in 2013.
"Today's figures are grounds for cautious optimism," said Steen Bocian, chief economist at Danske Bank.
Analysts said that part of the reason for the strong current account surplus in August was because Danish consumers and businesses remained wary about spending and investments.
"A turnaround in Denmark is going to come from progress in both private consumption and investment at home," said Nykredit's Stramer. ($1 = 5.7498 Danish crowns)
(Reporting by Mia Shanley; editing by Patrick Graham)
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Keywords: DENMARK ACCOUNT/