Consumer confidence across richer economies has yet to return to pre-pandemic levels, suggesting households are still feeling the pain of the cost of living crisis despite an economic rebound in many countries.
In April, the public mood across advanced economies was 1.6 per cent lower than in the same month in 2019, according to the OECD consumer confidence index. In the US it was 2.3 per cent lower while in the Eurozone it was down 2.2 per cent.
Over the past four years, consumer confidence has dropped sharply during the pandemic, rebounded strongly when economies reopened, then fell again as inflation hit a multi-decade high in many countries.
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