Economics
Global Consumer Confidence Report: October 2022
Report summary
Globally, confidence dropped in September as the energy and inflation crisis that originated in Western Europe spread across the world. Global institutions like the International Monetary Fund, World Bank and United Nations all sounded the alarm bell in September, warning of growing risks of a global economic recession. Apart from momentary improvements in August, Morning Consult’s global Index of Consumer Sentiment has consistently fallen since September 2021.
Key Takeaways
- A GDP-weighted measure of Morning Consult’s Index of Consumer Sentiment fell 1.6% in September, underscoring the vulnerability of the global economy.
- Bangladesh experienced the greatest increase in consumer confidence in September. The monthly average of the Morning Consult Bangladesh ICS rose 14.6% from August to September, largely reflecting a rebound from a 6.8% drop in August.
- The monthly average of the Morning Consult Belgium ICS fell the furthest in September. Confidence in Belgium fell 19.2% month over month as elevated energy prices flowed throughout the economy, affecting a growing share of input costs and challenging the viability of production.
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.
Follow him on Twitter @JohnCLeer. For speaking opportunities and booking requests, please email [email protected]
Jesse Wheeler previously worked at Morning Consult as a senior economist.
