Global Consumer Confidence Report: September 2022
Globally, confidence bounced higher in August. With increases among some of the world’s largest economies, including the United States and Japan, a GDP-weighted measure of Morning Consult’s Index of Consumer Sentiment increased after nearly a year of decline. However, while the Americas saw broad gains, sentiment in much of Europe and China continued to slide.
- A GDP-weighted measure of Morning Consult’s Index of Consumer Sentiment rose 1.6% in August, breaking a streak of 10 consecutive months of declines.
- Turkey experienced the greatest increase in consumer confidence in August: The monthly average for the Morning Consult Turkey ICS rose 19.5% from July to August. However, at just 54.1, sentiment in Turkey remains among the lowest of any country tracked by Morning Consult.
- The Morning Consult United Kingdom ICS fell the furthest in August across the countries tracked by Morning Consult. Confidence fell 10.1% month over month amid rapidly rising energy and food prices.
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.