Denmark Consumer Confidence October 2016


Denmark: Consumer confidence deteriorates in October to over three-year low

October 21, 2016

The mood among Danish consumers turned more pessimistic and fell to the lowest level in over three years in October, as the consumer confidence indicator produced by Statistics Denmark (DST) fell from September’s 1.8 points to 1.2 points.

October’s drop reflected that consumers were more downbeat about Denmark’s economic outlook in one year than they were in September and that their families’ financial situation had deteriorated compared to a year ago. Danish consumers also considered that it was better to refrain from purchasing big ticket items. Conversely, their opinions about their households’ economic situation in one year improved and their assessment of the current economic outlook remained stable in October compared to the previous month.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 2.0% in 2016, which is unchanged from last month’s forecast. For 2017, panelists also expect consumption to expand 1.9%, which is down 0.1 percentage points from last month’s projection.

Author: Teresa Kersting, Economist

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Denmark Consumer Confidence Chart

Denmark Consumer Confidence October 2016

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

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