Economics
Global Consumer Confidence Report: June 2023
Report summary
Global consumer sentiment continued to rise in May, adding to steady gains made since December 2022. The increase in Morning Consult’s GDP-weighted measure of consumer sentiment was driven by rising confidence in France, the United Kingdom and Japan. The United States also contributed to the month-over-month improvement.
However, U.S. sentiment fell sharply in the final days of May, and China’s boom since the end of its zero-COVID policy also looks to be waning. As a result, the pace of consumer confidence gains has slowed as questions intensify around the future trajectory of the global economy. Slowing price growth continues to support rising sentiment across much of the globe for now, but inflation remains elevated in the United States and Europe, and aggressive monetary tightening by central banks across the world is poised to act as a headwind to global demand in the second half of 2023.
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.
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]
