Denmark's August Consumer Confidence Indicator Lowest Since November 1990

Denmark's consumer confidence indicator plunged to its lowest level since November 1990 as indicators measuring the current economic situation and the expectation decreased.

Monday, the Statistics Denmark said the nation's consumer confidence indicator for the month of August declined to minus 12.2 from minus 9.7 in July. The indicator measuring general economic situation of the country over the last 12 months deteriorated to minus 22.8 from minus 17.3. Meanwhile, expectations over the next 12 months improved to minus 20.7 from minus 21.9. The indicator for household's financial situation over the previous 12 months fell to 2.5 from 6.7 in July. Similarly, the expectation index fell to 9.2 from 10.4. Further, the statistical office said consumers felt now is not the best time to make major purchases and the corresponding indicator slumped to minus 29.2 from minus 26.4. Copyright(c) 2008 RealTimeTraders.com, Inc. All Rights Reserved