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Second Quarter figures from Danske Bank show that Danes had the lowest private consumption for five years despite the fact that an average family with two children and a detached house had 24 per cent more funds available after tax and costs, according to Berlingske.
“Danes are saving because they are unsure about the future. Private finances have not changed, but most want a buffer should they be hit by unemployment, property values drop or interest rates increase,” Danske Bank Economist Jens Nærvig Pedersen tells the newspaper.
