Global Consumer Confidence Report: February 2023
Slowing inflation and resilient economic activity helped boost consumer confidence in January in most major global economies tracked by Morning Consult. Moreover, a GDP-weighted measure of consumer confidence received a major boost from the reopening of China, where the conclusion of years of severe COVID-zero restrictions has led to sharp upturn in consumer sentiment.
- Consumer confidence rose in January in 31 of the 43 countries tracked by Morning Consult, with an average monthly change of 2.2% in the ICS across all countries.
- The Netherlands saw the largest rise in consumer sentiment from December to January, with the Morning Consult Netherlands Index of Consumer Sentiment improving 12.7% month over month.
- The largest decline in confidence was in Israel, where consumer sentiment fell 5.2% from December to January.
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.
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.