Denmark Consumer Confidence May 2020

Denmark

Denmark: Consumer sentiment grows less pessimistic in May

May 20, 2020

The consumer confidence index released by Statistics Denmark increased from minus 11.9 in April to minus 8.8 in May. However, the index remained well below the zero-threshold that separates pessimism from optimism among consumers.

May’s reading was based on an improved outlook regarding households’ personal financial conditions and the general economy over the year ahead, and less gloomy views on making major purchases. However, with confidence overall still well in negative territory, private consumption will be weak in Q2 as consumers exercise caution.

FocusEconomics Consensus Forecast panelists expect private consumption to decline 4.1% in 2020, which is down 3.2 percentage points from last month’s forecast. In 2021, panelists expect private consumption to grow 4.6%.


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