Denmark: Consumer confidence in April falls to the lowest level since December 2008
The consumer confidence index released by Statistics Denmark plunged to minus 11.9 in April from 0.4 in March. Consequently, the index fell well below the zero-threshold that separates pessimism from optimism among consumers.
The freefall in April was primarily driven by consumers’ more negative views towards domestic economic conditions relative to this time last year and a more pessimistic outlook for the year ahead. That said, households remained largely upbeat about their current financial situation, although they considered it better to wait to purchase large consumer goods such as TVs.