Denmark Consumer Confidence October 2019


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.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 1.7% in 2020, which is down 0.1 percentage points from last month’s forecast. In 2021, panelists also expect private consumption to grow 1.7%.

Author:, Economist

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Denmark Consumer Confidence Chart

Denmark Consumer Confidence October 2019

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

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