Global Consumer Confidence Report: July 2022

Report summary

The decline in consumer confidence in June was broader and steeper than that of May, as the nine-month downward trend in global sentiment continues. The three largest declines in monthly consumer confidence occurred in Ireland, Thailand and Norway, while the three largest increases occurred in Colombia, Bangladesh and Egypt.

Key Takeaways

  • Global consumer sentiment fell sharply again in June, with Morning Consult’s Index of Consumer Sentiment declining in 37 of 44 countries. The average monthly change in the ICS across the 44 countries was -3.3%.
  • Morning Consult’s Index of Consumer Sentiment in Colombia increased 7.7% in June as confidence rallied on the back of leftist Gustavo Petro’s victory in a June 19 presidential election runoff.
  • Morning Consult’s Index of Consumer Sentiment in Ireland fell the furthest in June across the 44 countries tracked by Morning Consult. Confidence fell 12.7% month over month as inflation rose to 9.1%, a 38-year high.

About the authors

A headshot photograph of John Leer
John Leer
Chief Economist

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.

Follow him on Twitter @JohnCLeer. For speaking opportunities and booking requests, please email [email protected]

A headshot photograph of Jesse Wheeler
Jesse Wheeler
Senior Economist

Jesse Wheeler previously worked at Morning Consult as a senior economist.