Denmark: Consumer confidence falls to a 40-month low in March
March 23, 2020
The consumer confidence index released by Statistics Denmark fell to 0.4 in March from 3.3 in February. Nevertheless, the index remained slightly above the zero-threshold that separates optimism from pessimism among consumers.
The freefall in March was primarily driven by consumers’ more negative views towards domestic economic conditions relative to this time last year and a more pessimistic outlook for the year ahead. That said, consumers remained largely upbeat about their current financial situation.
Going forward, confidence among households will likely remain bleak as Covid-19 weighs on economic activity and continues to create uncertainty over future financial conditions.
Author: Steven Burke, Economist