Clouds on the financial horizon?
According to Statistics Denmark, the sharp fall is due to a marked fall in four of the five indicators that make up the overall level of consumer confidence.
And in particular, consumers’ expectations of Denmark’s economy in a year’s time have decreased significantly.
Consumers expect their family financial situation to be significantly worse in a year’s – reflected in the indicators showing that it went from 0.5 last month to -26.0 today.
Consumers also expect that it is not advantageous to procure larger consumer goods at the moment, and unemployment will have risen this time next year.
Source: The Nordic Page