Denmark Consumer Confidence October 2022

Denmark

Denmark: Consumer sentiment nosedives to new record low in October

October 21, 2022

Consumer sentiment plunged to a fresh record low of minus 37.0 in October, down from the prior month’s minus 32.1. The index moved further below the 0-point threshold, signaling starker pessimism among Danish consumers from the previous month.

The deterioration was broad-based. It reflected deeper pessimism in consumers’ assessment of both their financial situation and the country’s general situation today compared to a year ago and in the coming 12-month period. Additionally, consumers considered it a bad time to make large-ticker purchases.

FocusEconomics Consensus Forecast panelists see private consumption expanding 0.9% in 2022, which is down 0.9 percentage points from last month’s forecast, and 1.4% in 2023.


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Denmark Consumer Confidence October 2022

Note: Value of monthly consumer confidence.
Source: Statistics Denmark (DST).


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