Denmark: Consumer confidence remains at highest level in almost three years
July 23, 2013
In July, the consumer confidence indicator developed by Statistics Denmark (DST) rose to 3.7 points, which is above the 3.4 points observed in June. The reading represents the highest level in almost three years and suggests a continued positive outlook for private consumption in the near term.
According to DST, consumers are more optimistic about both their current economic situation and the national economic outlook. Households were slightly more optimistic in July about their future economic prospects. In addition, consumers' willingness to make major purchases improved compared to the previous month.
FocusEconomics Consensus Forecast panellists expect private consumption to expand 0.4% in 2013, which is unchanged from last month's forecast. For 2014, panellists expect consumption to expand 1.4%.
Author: Carl Kelly, Economist