Denmark Consumer Confidence February 2021

Denmark

Denmark: Consumer confidence drops further into pessimism in February.

February 18, 2021

Consumer confidence fell to a three-month low in February, coming in at minus 5.2, down from January's minus 4.1. As a result, the index moved further away from the 0-point threshold, separating pessimism from optimism among consumers.

The result reflects consumers became more pessimistic regarding the economic situation of the country in a year from now, while also expect the unemployment rate to continue increasing in the coming 12 months. Moreover, consumers deem the current situation favorable to save , prompting precautionary savings and capping household spending in turn.

FocusEconomics Consensus Forecast panelists see private consumption expanding 3.5% in 2021, which is down 0.6 percentage points from last month’s forecast, and 3.4% in 2022.


Author:, Junior Economist

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Denmark Consumer Confidence Chart


Denmark Consumer Confidence February 2021

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


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