Denmark: Consumers less confident in July

The consumer confidence indicator produced by Statistics Denmark (DST) decreased from 4.4 points in June to 3.1 points in July, which was the lowest print in nine months.

July’s reading reflected consumers’ more pessimistic expectations for the Danish economy in the next 12 months. Their perceptions of the current economic situation in Denmark have deteriorated slightly compared to a year ago. In addition, participants in the survey responded that they were more concerned about the current and future financial situation of their households. Surprisingly, households were more optimistic about the outlook for unemployment in the next 12 months.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 1.9% in 2016, which is unchanged from last month’s forecast. For 2017, panelists expect consumption to expand 2.0%.