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.
Author: Steven Burke, Economist