Denmark: Consumer confidence falls to fresh record low in May

Consumer confidence deteriorated to minus 22.4 in May from April's minus 20.9. May's result marked the weakest sentiment on record. As a result, the index moved further below the 0-point threshold, indicating more pessimism among Danish consumers.

The downturn came on the back of a deterioration of consumers’ views regarding their financial situation at present compared to a year ago. Additionally, their views with regard to the country’s general economic situation both at present and for the coming 12-month period also deteriorated.

FocusEconomics Consensus Forecast panelists see private consumption expanding 2.9% in 2022, which is down 0.5 percentage points from last month’s forecast, and 2.7% in 2023.