Spending Monitor

Danish consumer spending declined 0.9% in April after a 1.0% increase in March, reflecting seasonal distortions from Easter and weakened sentiment due to the Iran war.

Key Takeaways

• 1.Total card spending remained steady despite higher motor fuel costs and rising real incomes, indicating a period of stagnation.
• 2.The Iran war is impacting Danish consumption primarily through weakened sentiment rather than direct energy costs.
• 3.The early timing of Easter distorted monthly data, boosting March figures while leading to a decline in April retail and grocery spending.

Table of Contents

• Spending broadly unaffected by higher fuel prices
• Spending continues to stagnate
• Notes on the spending data
• Nominal and real changes in monthly spending
• Grocery spending declined to new low in real terms
• Little change in real clothes sales in April
• Shoe store spending reverse after March boost
• Spending in sporting goods stores in slight decline
• DIY store sales rose further in April
• Furniture spending down after March rebound
• Spending in electronic and household appliance stores down in April
• Real digital goods spending continued to halt in April
• Real spending in jewellery stores dived in April
• Nominal spending at gas stations picked rose as prices increased further but real spending declined
• Nominal changes in monthly online and offline spending
• Disclosures

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