Economics
Global Consumer Confidence Report: May 2024
Report summary
Morning Consult conducts daily surveys in 43 countries across the globe, asking them the same set of questions on personal finance and business conditions in an effort to gauge fluctuations in consumer sentiment in real-time. This report highlights the latest developments in April and the first week of May.
Last month's signals were contradictory. Consumer sentiment averaged higher in April compared to March in 21 countries, while 22 countries experienced a decline in sentiment.
- In the Americas region, the mood was generally sour, with sentiment dropping in six countries and eking out some growth in Chile and Mexico.
- Europe’s sentiment reflected the global mood, however upward movements in sentiment were apparent in larger economies at the end of April and into May.
- Sentiment indexes across the Middle East and Africa registered large ups and downs. While sentiment dropped in Israel and the UAE, the upward momentum from last month carried into April for Nigeria and Egypt.
- Finally, sentiment in the Asia-Pacific was also split in half, with Japan, China, South Korea and Thailand driving sentiment down in the region.
In this report, we take a closer look at consumer sentiment in the United States, Canada, India, Japan, China, Turkey and the U.K, while providing a historical data update on all countries we cover.
Key Takeaways
- In Turkey, consumer sentiment stayed mostly flat in April after the victory of the opposition party in municipal elections as high inflation figures and interest rates weigh heavily on consumers.
- Consumer sentiment slid for most of April after reaching its most recent peak in mid-March in China, indicating that consumer confidence in the country has not quite turned the corner.
- Japan’s economic woes are evident in its consumer sentiment index, which has been coming down since the end of March.
About the authors
Deni Koenhemsi leads Economic Analysis at Morning Consult. Previously, she was a senior associate at S&P Global, where she managed a team of economists, forecasted commodity prices and advised Fortune 500 companies on their procurement and planning decisions. She received a bachelor’s degree in international relations from the University of Richmond and a master’s degree in international economics from American University. For speaking opportunities and booking requests, please email [email protected]
Akber Khan is an economist at decision intelligence company Morning Consult, where he supports the research efforts of the Economic Intelligence team by applying a combination of data science, data engineering and econometric forecasting methods to deliver insights into global macroeconomic trends. Previously, he worked for the Federal Reserve Board as a financial analyst, covering issues such as banking and finance, short-term funding markets, and monetary policy. He received a bachelor’s degree in economics from Bentley University.
Follow him on Twitter @AKhanMC. For speaking opportunities and booking requests, please email [email protected]
