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Denmark Consumer Confidence August 2023

Denmark: Consumer sentiment deteriorates in August

Consumer sentiment halted its nine-month improving streak in August, and deteriorated to minus 10.9, down from July’s minus 10.1. As a result, the index moved further below, the 0-point threshold, signaling stronger pessimism among Danish consumers from the previous month.

Looking at the details of the release, August’s downtick reflected consumers’ views regarding the country’s current economic situation compared to a year ago becoming more pessimistic, and consumer’s increased reluctancy to making large-ticker purchases. Moreover, optimism with regard to the country’s and consumers’ financial situation a year from today eased.

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