Denmark: Consumer confidence climbs to a six-month high in January
January 23, 2018
The consumer confidence index released by Statistics Denmark climbed to 8.2 points in January from 6.5 points in December, which marked the highest reading in six months. It moved higher above the crucial zero-point mark that separates optimism from pessimism among consumers, where it has remained since January 2017.
The upturn in overall consumer sentiment was driven by more favorable perceptions regarding personal financial situation over the last 12 months and at present, and the general economic situation over the past year and next year. Less pessimism about purchasing big-ticket items at present and over the next 12 months, and the development of consumer prices over the last 12 months, also contributed to improvement in overall sentiment. Gains made by these subcomponents more than offset a downturn in sentiment regarding personal financial situation over the next 12 months, the development of consumer prices over the next 12 months, unemployment over the next year, savings ability at present and over the next year.
Author: Nihad Ahmed, Economist