Global Consumer Confidence Report: August 2022
The decline in consumer confidence in July remained geographically broad, but the magnitude of the decreases eased last month. The three largest declines in the Morning Consult ICS occurred in South Korea, Argentina and Germany, while the three largest increases occurred in Pakistan, Turkey and Vietnam.
- A GDP-weighted measure of Morning Consult’s Index of Consumer Sentiment has fallen in the past 10 consecutive months and is now 17.8% below pre-pandemic levels.
- Pakistan registered the largest increase in consumer sentiment in July across the 44 countries tracked by Morning Consult: The Morning Consult Pakistan ICS ended the month at 106.0 on average, up 7.9 points or 8.1% from June.
- The Morning Consult South Korea ICS fell the furthest in July across the countries tracked by Morning Consult. Confidence fell 12.0% month over month as slowing demand from China weighed on exports.
About the authors
John Leer leads Morning Consult’s global economic research, overseeing the company’s economic data collection, validation and analysis. He is an authority on the effects of consumer preferences, expectations and experiences on purchasing patterns, prices and employment.
John continues to advance scholarship in the field of economics, recently partnering with researchers at the Federal Reserve Bank of Cleveland to design a new approach to measuring consumers’ inflation expectations.
This novel approach, now known as the Indirect Consumer Inflation Expectations measure, leverages Morning Consult’s high-frequency survey data to capture unique insights into consumers’ expectations for future inflation.
Prior to Morning Consult, John worked for Promontory Financial Group, offering strategic solutions to financial services firms on matters including credit risk modeling and management, corporate governance, and compliance risk management.
He earned a bachelor’s degree in economics and philosophy with honors from Georgetown University and a master’s degree in economics and management studies (MEMS) from Humboldt University in Berlin.
His analysis has been cited in The New York Times, The Wall Street Journal, Reuters, The Washington Post, The Economist and more.
Jesse Wheeler previously worked at Morning Consult as a senior economist.