Denmark Consumer Confidence September 2020

Denmark

Denmark: Consumer confidence falls further in September

September 22, 2020

Consumer confidence came in at minus 7.4 in September, down from August’s minus 5.5, marking the lowest reading in the past four months. Consequently, the index moved further away from the 0-point threshold, which separates pessimism from optimism among consumers.

The drop came on the back of consumers’ lack of desire to shop, as their assessment of the economic situation in the country over the next 12 months remains deteriorated. Meanwhile, the survey revealed that households expect unemployment to increase going forward. However, consumers still believe that the financial situation of the families is better now than it was in 2019.

FocusEconomics Consensus Forecast panelists see the economy contracting 4.9% in 2020 which is up 0.2 percentage points from the previous month’s forecast, before growing 4.0% in 2021.


Author:, Junior Economist

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Denmark Consumer Confidence September 20 20

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


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