Denmark Consumer Confidence Weakens In July

(RTTNews) - Denmark consumer confidence continued to weaken in July, mainly due to decline in consumers' assessment of the national economy and their personal current economic situation, Statistics Denmark reported on Wednesday.

The consumer confidence index fell to -25.6 in July from -24.8 in June. The average for the past six months was -18.6.

A rise in the desire to buy also influenced the headline index, the statistical office said.

Households' assessment regarding the general economic situation of the country over the next year improved in July, with the corresponding index rising to -23.0 from -23.5 in June.

However, the index measuring consumers' view on the past economic situation of the country dropped to -45.5 from -42.1.

Consumers' opinion regarding their own future financial situation also increased in July. The respective index increased to -7.2 from -7.8.

The measure reflecting the present personal financial situation fell notably to a record low -21.3 in July from -17.3 in the prior month.

Consumers were less negative towards big consumer goods in July as the index increased to -30.7 from -33.0 in the previous month.

Consumers continue to believe that unemployment will increase over the next year.

The index reflecting households' assessment of the current inflation hit a record high of 66.7 in July.