Global Consumer Confidence Report: June 2022
Consumers globally continued to grow more pessimistic in terms of their views of their personal finances, macroeconomic outlook and current buying conditions. The changes in consumer confidence occurred across a broad range of regions and continents. The three largest declines in consumer confidence occurred in Pakistan, Chile and Poland, while the three largest increases occurred in Thailand, Spain and Indonesia.
- Global consumer confidence was broadly on the retreat in May, with Morning Consult’s Index of Consumer Sentiment falling in 25 of 44 countries. The average monthly change in the ICS across all countries was -0.5% in May.
- Morning Consult’s Index of Consumer Sentiment in Thailand increased by 11.3% in May, as local policymakers eased COVID-19 restrictions and foreign tourists resumed their travel plans.
- Political and economic conditions in Pakistan rapidly deteriorated in May, driving a 13.2% decrease in Morning Consult’s Index of Consumer Sentiment. On the political front, the former prime minister has called for new elections and questioned the legitimacy of the government, while the country’s foreign exchange reserves dropped by roughly 50% from August of last year, increasing the government’s risk of defaulting on its debt repayments.
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.