Improving consumer confidence

23-08-2010 09:55 The Danes’ confidence in their own economy is slightly increasing in spite of the growing fear of a new world economic recession. The consumer confidence indicator for August has thus increased to 4.4 against 4.1 in July.

»The consumers still estimate that their own actual economic situation is better now than it was 12 months ago. On the other hand, they estimate that Denmark’s actual economic situation is weaker today than it was a year ago,« Statistics Denmark wrote today.

Among other things, the Danes expect that the prices will increase in the next 12 months, and they continue to believe that the unemployment will be lower in a year than it is today. The Danes thus maintain their optimism, although it may be weak, as the housing market seems to have stabilized in several regions in the country, and positive news from expecially German economy gives rise to hopes that it will be easier for Denmark to weather the storm of crisis.
During these last weeks the fear of a new crisis in especially USA has sharpened. Several economists see an increasing fear of a so-called double-dip where the world’s strongest economy will be affected by a new recession period.