Denmark: Consumer confidence strengthens slightly in March
March 21, 2019
Consumer confidence regained some ground in March, with the consumer confidence index released by Statistics Denmark rose to 3.8 points in March from 3.3 points in February. Consequently, the index remained above the crucial zero-point mark that separates optimism from pessimism among consumers, where it has been now for over two consecutive years.
The uptick in consumer sentiment in March came on the back of a nearly broad based improvement across sub-indicators. Primarily, consumers were remarkably more confident in their general financial situation currently and over the next 12 months. Likewise, households were also more optimistic in their ability to save over the course of the next year and were less downbeat about making major purchases. In addition, they were notably less pessimistic about labor market prospects. On the flipside, consumers were less optimistic about the general economic situation now and in the future.
Denmark Private Consumption Forecast
FocusEconomics Consensus Forecast panelists expect private consumption to expand 2.0% in 2019, which is down 0.1 percentage points from last month’s forecast. In 2020, panelists expect private consumption to grow 2.0% again.
Author: Lindsey Ice, Economist