Denmark Consumer Confidence December 2020

Denmark

Denmark: Consumer confidence improves notably in December, but remains pessimistic

December 21, 2020

Consumer confidence came in at minus 3.8 in December, notably up from November’s minus 7.6, thus marking the highest reading in five months. As such, the index moved considerably closer to the 0-point threshold, separating pessimism from optimism among consumers.

The improvement was largely due to consumers’ improved expectations regarding the country’s economic situation in the next 12 months and an increase in desire to buy goods now as opposed to later, partly attributable to the Christmas period. Moreover, families still expect an increase in the unemployment rate in 2021, albeit a smaller one than reported in previous months.

FocusEconomics Consensus Forecast panelists see the economy growing 3.3% in 2021, which is unchanged from the previous month’s forecast, and 2.9% in 2022.


Author:, Junior Economist

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Denmark Consumer Confidence December 20 20

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


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