Denmark: Consumer sentiment remains upbeat in June
June 20, 2019
The consumer confidence index released by Statistics Denmark ticked down to 5.8 points in June from 5.9 points in May. Nevertheless, the index remained comfortably above the crucial zero-point mark that separates optimism from pessimism among consumers, where it has been since December 2016.
June’s reading was driven mainly by consumers’ less positive view of the general economic situation in the next 12 months. Moreover, consumers grew more pessimistic on making major purchases. Nevertheless, consumers were more optimistic regarding their future financial situation and their ability to save.
Sentiment in June puts Q2’s average well above the previous quarter, which, coupled with tepid inflationary pressures and a solid job market, bodes well for private consumption.
Denmark Private Consumption Forecast
FocusEconomics Consensus Forecast panelists expect private consumption to expand 1.7% in 2019, which is down 0.3 percentage points from last month’s forecast. In 2020, panelists expect private consumption to grow 1.8%.
Author: Steven Burke, Economist