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Financial News: Denmark Consumer Confidence Indicator Improves In October

Denmark Consumer Confidence Indicator Improves In October

10/22/2020 - 08:33:00 (RTTNews)

(RTTNews) - Danish consumers were less pessimistic in October as the assessment regarding their personal financial situation improved leading to an increase in the willingness to buy, despite fears of rising unemployment in future, survey data from Statistics Denmark showed on Thursday.

The consumer confidence indicator rose to -6.2 from -7.4 in September. The reading was at -5.5 in August.

The score also remained below the six-month average of -5.7.

"The modest increase in consumer confidence is primarily due to a marked increase in the desire to buy after the frozen holiday pay began to be released," the statistical office said.

The improvement was offset by a sharp fall in consumers' expectations regarding Denmark's economy in a year's time.

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