Denmark Consumer Confidence November 2019

Denmark

Denmark: Consumer confidence ticks down in November

November 22, 2019

The consumer confidence index released by Statistics Denmark fell to 1.4 in November from 1.7 in October. Nevertheless, the index remained above the zero-point mark that separates optimism from pessimism among consumers.

The downtick in November was primarily driven by consumers’ less positive view towards their financial situation over the last 12 months and a more downbeat outlook regarding their ability at present to make major purchases.

In 2020, solid labor dynamics and healthy credit conditions should support consumer confidence. That being said, a subdued global growth outlook and uncertainty over Brexit will likely continue to drag on consumer optimism.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 1.7% in 2020, which is down 0.1 percentage points from last month’s forecast. In 2021, panelists also expect private consumption to grow 1.7%.


Author:, Economist

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Denmark Consumer Confidence Chart


Denmark Consumer Confidence November 2019

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


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