Denmark: Consumer confidence rises to almost three-year high
June 20, 2013
In June, the consumer confidence indicator elaborated by Statistics Denmark (DST) rose to 3.4 points, which marks a strong improvement from the minus 2.6 points tallied in May and represents the highest level in almost three years. Consumer confidence is now in positive territory for the first time in the last 10 months, which suggests an improved outlook for private consumption in the near term.
According to DST, households were more optimistic about their current financial situation as well as regarding the current national outlook. Consumers were also more optimistic in June about their future financial situation compared to last month. Accordingly, the sub-index relative to the willingness to make major purchases strengthened over the previous month.
FocusEconomics Consensus Forecast panellists expect private consumption to expand 0.4% in 2013, which is unchanged from last month's forecast. For 2014, panellists expect consumption to expand 1.4%.