Denmark Consumer Confidence November 2020

Denmark

Denmark: Consumer confidence remains entrenched in pessimistic territory in November

November 20, 2020

Consumer confidence came in at minus 7.6 in November, down from October’s minus 6.2 and marking the lowest reading in six months. As such, the index moved further below the 0-point threshold, indicating pessimism among consumers.

The deterioration came on the back of a marked decline in economic expectations for the year ahead, with consumers seeing the unemployment rate rising notably in the next 12 months. Moreover, consumers continue to assess the current economic situation as less favorable than a year ago. However, families perceive their current financial situation to be better compared to a year ago, and expect it to further improve in a year from now.

FocusEconomics Consensus Forecast panelists see the economy growing 3.6% in 2021, which is down 0.3 percentage points from the previous month’s forecast, and 2.6% in 2022.


Author:, Junior Economist

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Denmark Consumer Confidence November 20 20

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


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