Denmark: Consumer confidence improves in August
The consumer confidence index released by Statistics Denmark rose to 6.3 in August from 2.9 in July. Consequently, the index remained comfortably above the crucial zero-point mark that separates optimism from pessimism among consumers, where it has been since December 2016.
The improvement in August was primarily driven by consumers’ more upbeat outlook on their financial situation over the next 12 months and their ability to save. Subsequently, consumers were less downcast about making major purchases both now and in the future. Households were also more optimistic about the general economic situation over the last 12 months and were less pessimistic about the economic outlook. Moreover, consumers had a rosier assessment of the outlook for the labor market in August.