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Denmark consumer confidence falls in July

Staff Writer |
The consumer confidence index released by Statistics Denmark dropped from June’s over three-year high of 10.6 points to 9.7 points in July.

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Despite the drop, the index lies comfortably above the crucial zero-point mark that separates optimism from pessimism among consumers, where it has been since January 2017.

July’s decline reflected consumers’ mixed views on the economy. The country’s general economic situation over the next 12 months and in the past year were perceived more negatively.

Similarly, consumers’ willingness to make major purchases currently and in the next year declined. Households, however, viewed their financial situation over the next year in a more favorable light and expected the labor market to improve in 2019.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 2.3% in 2018, which is up 0.2 percentage points from last month’s forecast. For 2019, panelists also expect private consumption to grow 2.3%.

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