Denmark Consumer Confidence July 2020

Denmark

Denmark: Consumer confidence improves in July but remains pessimistic

July 23, 2020

Consumer confidence came in at minus 2.9 in July, up from June's minus 3.1. Consequently, the index remained below the 0-point threshold separating pessimism from optimism among consumers. The reading suggests that households remain cautious despite the lifting of lockdown measures, and hints at still-muted private consumption at the outset of Q3.

The uptick came on the back of an improvement in consumers' views on the general economic situation over the next 12 months. In contrast, consumers’ views on their financial situation over the next 12 months deteriorated.

FocusEconomics Consensus Forecast panelists see the economy contracting 5.1% in 2020, which is down 0.1 percentage points from the previous month’s forecast, before growing 3.9% in 2021.


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