Denmark Consumer Confidence Rises In August

(RTTNews) - Households in Denmark remained less pessimistic in August, and the confidence index rose to the highest level in six months, figures from Statistics Denmark showed on Friday.

The consumer confidence index rose to -13.1 in August from -14.7 in the previous month.

Among components, the opinion regarding households' financial situation over the next year improved strongly, with the respective index rising to 0.4 from -3.5 in July. 

Meanwhile, the country's general economic situation in the coming twelve months weakened in July, and the respective index dropped to -22.7 from -23.8. However, the index measuring past general economic conditions in Denmark rose to -22.7 from -23.8.

Consumers expect prices to increase at almost the same pace over the next year, and they also expect a rising trend for unemployment.

Separate official data showed that Danish business confidence, which weighs expectations in construction, industry, retail, and services, climbed to 106.7 in August from 105.3 in July. Moreover, this was the highest score since April 2022.