Financial News: Denmark's Consumer Confidence Rises To -25.1

Denmark's Consumer Confidence Rises To -25.1

02/20/2023 - 04:28:00 (RTTNews)

(RTTNews) - Denmark's consumer confidence rose further in February, reaching the highest level in six months, though still indicating little progress in the current negative mood, figures from Statistics Denmark showed on Monday.

The consumer confidence index rose to -25.1 in February from -26.1 in January.

The slight improvement in February was mainly due to progress in consumers' assessments of their family's financial situation today compared to a year ago, as well as expectations of their own financial situation in a year's time compared to today.

The index measuring consumers' views towards the general economic situation of the country in the next twelve months dropped marginally to -6.4 in February from -6.3 in January, while their own financial situation in the future rose from -1.2 to -0.3.

However, consumers continue to assess that the family's financial situation is worse today than a year ago, with the corresponding index falling to -27.0 from -26.2.

Consumers assessed that this time is not favorable for buying large consumer goods, with the respective index remaining broadly unchanged at -41.8.

Households expect prices to rise more slowly over the next twelve months, and they also expect a rising trend for unemployment, the survey said.

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