Denmark: Consumer confidence continues to fall October
October 23, 2019
The consumer confidence index released by Statistics Denmark fell to 1.7 in October from 4.3 in September, reaching the lowest point since December 2016. Nevertheless, the index remained above the zero-point mark that separates optimism from pessimism among consumers.
The downtick in October was primarily driven by consumers’ less positive view on the economy over the past 12 months and a more downbeat outlook regarding their ability at present to make major purchases. Moreover, consumers were less optimistic about their current and future financial situations in October.
Shifting focus to next year, a tight labor market and a healthy real estate market should support consumer confidence. That being said, a subdued global growth outlook and uncertainty over Brexit will likely continue to drag on consumer optimism.
Author: Steven Burke, Economist