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.
Author: Marta Casanovas , Junior Economist