Denmark: Consumer confidence jumps up in July
July 20, 2017
The consumer confidence index released by Denmark Statistics came in at 10.5 points in July, which is up significantly from the previous month’s 7.1 points and the highest reading since May 2015.
The improvement was sufficiently broad-based as sentiment regarding nearly all sub-indices improved compared to June. Households held a more favorable view regarding their current and future financial situation as well as the present and future general economic situation of the country. However, consumers held a less optimistic view on price developments over the last and the next 12 months. Consumers also reported that they were less likely to save over the next 12 months and to make major purchases during the same time period. Finally, while consumers expect unemployment to improve compared to the previous month, their expectations are worse than a year ago.
Author: Jan Lammersen, Economist