The February 2023 reading is also well below that of a year ago, when the index stood at 77 just before the Russian attack on Ukraine, reflecting the impact of that shock on the cash and confidence of consumers.
Consumer confidence globally remains quite subdued as pressures on household finances remain substantial and recession fears persistMr Hughes noted that an easing in official inflation figures may have helped sentiment but with an overall inflation rate of 7.8 per cent in January and double-digit increases in high-profile areas such as food and energy ,The modest increase in sentiment here mirrored gains in similar confidence measures for the US and the EU. “This hints at the role played by easing energy costs globally as well as a modest pullback in inflation rates,” Mr Hughes said.
“That said, consumer confidence globally remains quite subdued as pressures on household finances remain substantial and recession fears persist,” he said.was the result of offsetting movements in the key components that make up the survey. While consumer thinking on the 12-month economic outlook weakened, sentiment in relation to jobs and consumers assessment of the change in their household financial circumstances through the past 12 months both improved.
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: RSVPMagazine - 🏆 7. / 76 Read more »