Denmark: Consumer confidence reaches nearly seven-year high
January 23, 2014
In January, the consumer confidence indicator developed by Statistics Denmark (DST) rose to 6.3 points, which marked a significant improvement over the 2.9 points observed in December. January's reading marked the highest value that has been recorded since July 2007.
The monthly improvement reflects households' more optimistic views regarding both their current financial situations and the country's economic situation. In January, consumers' overall outlook on personal finances 12 months from now was better than in the previous month. In addition, consumers' willingness to make major purchases improved over December.
FocusEconomics Consensus Forecast panelists expect private consumption to expand 0.4% in 2014, which is unchanged from last month's forecast. For 2015, panelists expect consumption to expand 1.2%.
Author: Dirina Mançellari, Senior Economist