Global Consumer Confidence Report: January 2023
A deceleration in the pace of inflation across much of the world has helped lift global consumer sentiment from recent lows. Falling energy prices and monetary policy tightening have combined to bring down price growth. However, the strong policy action taken by central banks across the globe will also dampen demand moving into 2023, with much of the global economy headed for a slowdown.
- A GDP-weighted measure of Morning Consult’s Index of Consumer Sentiment rose 1.8% from November to December 2022.
- Germany experienced the largest increase in consumer confidence from November to December, with the Morning Consult Germany Index of Consumer Sentiment rising 11.4%.
- The biggest outlier in the European boost in confidence was Sweden, where price growth continues to accelerate. Sweden saw the largest decrease in its ICS in December, with the Morning Consult Sweden Index of Consumer Sentiment falling 7.3% compared with November.
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.