GlobeScan’s most recent tracking of consumer confidence around the world confirms that to talk about “global” economic sentiment is somewhat misleading.
The polarized picture we have noted in recent years continues, with consumers in the world’s major industrialized economies remaining predominately downbeat, while those in some of the major emerging economies are more likely to feel positive about their financial situation.
Notably, despite increasing talk of an economic slowdown, Chinese consumers appear much more upbeat about their financial situation than they did in 2011. The situation in India is more balanced, although those who report that their financial situation is better than last year still outnumber those who feel worse off than a year ago.
The contrast with the G7 is stark. If the recent improvement in US unemployment figures is translating into less negative sentiment among consumers there, the same cannot be said in France or, particularly, the UK, where sentiment remains heavily negative. There is little sign that Western consumers are ready to be the motor of any sustained economic recovery.
Finding from the GlobeScan Radar, Wave 1, 2012
This post was written by former GlobeScan Research Director, Sam Mountford.
