Consumer confidence is taking a small step in the right direction, but is still at a historically low level.
Just like the Danish winter weather right now, consumers’ expectations for their own and Denmark’s economy are at freezing point.
But there may be frost on the way. In any case, figures from Statistics Denmark show that consumer confidence rises slightly in November.
Where in October it was at a record low of minus 37.0, the figure for November is minus 30.4.
This is because the Danes surveyed take a slightly brighter view of, among other things, Denmark’s economic situation now and in a year’s time.
And then, according to Niklas Praefke, chief economist at Lederne, there may be a very concrete reason for the burgeoning optimism.
– The improvement must be seen in the light of the fact that energy prices have fallen quite a lot recently, and this may be the first sign that inflation is about to peak.
– It can give consumers a little joy back, he writes in a comment.
A negative indicator is, however, an expression that the Danes still have a negative image of the economy and must therefore be judged to be more reluctant to spend money.
And according to chief economist Søren Kristensen from Sydbank, this is a significant threat, because private consumption makes up up to half of the Danish economy.
– Therefore, the economy will also find it more difficult if consumers do as they usually do, and keep a little extra money when the wrinkles take hold.
– That is why many shop owners must also currently look at consumer confidence with horror, he writes in a comment.
Consumer confidence is the result of a monthly questionnaire survey in which a representative section of the population is asked a number of questions about their own and the country’s economy.
Source: Kristeligt Dagblad – Latest articles. by www.kristeligt-dagblad.dk.
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