Denmark Consumer Confidence August 2017

Denmark

Denmark: Consumer confidence drops in August

August 23, 2017

Following the jump in the previous month, the consumer confidence index released by Statistics Denmark came in at 7.6 points in August, which is significantly below the prior month’s 10.5points. Despite the deterioration in consumer confidence, August’s reading is still the second highest so far this year.

The result was largely driven by households’ less optimistic view of their financial situation in the last year and over the next 12 months, as well as the general economic situation of the country in the last year and over the next 12 months. In addition, consumers’ willingness to make major purchases declined compared to the prior month. However, as a result of a strong labor market, consumers’ views regarding unemployment improved.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 1.9% in 2017, which is from up 0.1 percentage points last month’s forecast. For 2018, panelists expect consumption to expand 2.1%.


Author:, Economist

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Denmark Consumer Confidence Chart


Denmark Consumer Confidence August 2017

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


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