Denmark: Consumer confidence deteriorates in November
November 21, 2013
In November, the consumer confidence indicator developed by Statistics Denmark (DST) inched down from the 4.6 points recorded in October to 4.0 points. This is the lowest reading since July.
The monthly drop reflected that households were less confident about their current economic situation compared to a year ago. Consumers' assessment of their personal economic situation as well as of the overall economy in the next year also deteriorated over the previous month. However, consumers' willingness to make major purchases improved slightly compared to the previous month.
FocusEconomics Consensus Forecast panelists expect private consumption to expand 0.4% in 2013, which is unchanged from last month's forecast. For 2014, panelists expect consumption to expand 1.2%, which is up 0.1 percentage points from last month's projection.
Author: Dirina Mançellari, Senior Economist