Denmark: Consumer confidence dips further into negative territory
October 23, 2012
In October, the consumer confidence indicator elaborated by Statistics Denmark (DST) fell to minus 5.5 points from minus 2.2 points in September. The decline marked the third consecutive deterioration in the index and brought consumer sentiment to its lowest level in nine months. Furthermore, with the monthly drop, consumer confidence dipped further into negative territory, which suggests a pessimistic outlook for private consumption in the near term. According to DST, households were more pessimistic about their current financial situation as well as regarding the future national outlook. On a positive note, consumers were slightly more optimistic about their future financial situation.