Denmark: Consumer confidence picks up in December
December 20, 2019
The consumer confidence index released by Statistics Denmark increased to 2.5 in December from 1.4 in November. Therefore, the index remained above the zero-point mark that separates optimism from pessimism among consumers.
The uptick in December was primarily driven by consumers’ more positive views towards their financial situations over the last 12 months, although they were less positive about their financial situations for the next 12 months. Moreover, households were more positive about national economic conditions over the past 12 months and were less pessimistic regarding making major purchases at present in December compared to the previous month.
Looking ahead, solid labor dynamics and healthy credit conditions should support consumer confidence. That being said, an uncertain global growth outlook and unknown externalities due to Brexit will likely continue to drag on consumer optimism.
Author: Steven Burke, Economist