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Denmark Consumer Confidence Lowest On Record

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Denmark’s consumer confidence weakened to the lowest level ever recorded in May amid a steep deterioration in the assessment of the present economic situation, survey data from Statistics Denmark showed on Friday.

The consumer confidence index fell to -22.4 in May from -20.9 in April. The average for the past six months was -10.8.

The indicator reflecting the assessment on the present economic situation for Denmark dropped sharply to -37.8 from -29.1.

Households’ assessment regarding the general economic situation of the country over the next year decreased to -23.2 in May -22.2 in April.

The index measuring consumers’ view regarding the future personal financial situation improved to -6.1 in May from -8.4 in April.

The measure reflecting the present personal financial situation fell to -14.8 in May from -13.9 in the prior month.

Consumers were less negative towards the big purchases as the index reading rose to -30.1 from -31.0 in the previous month.

Households expect unemployment to rise over the next year.

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