The impact of the COVID-19 pandemic on consumer and business confidence indicators

Artikel

The COVID-19 pandemic and induced economic and social constraints have significantly impacted the confidence of both consumers and businesses. Despite that, comprehensive studies of the impact of the COVID-19 pandemic on the consumer and business sentiment are still lacking. Thus, in our research we aim to identify consumer and business confidence indicators' reaction to the spread of the COVID-19 pandemic in the Eurozone, the United States, and China. For this purpose, we used the method of correlation-regression analysis. We chose the consumer-confidence index, manufacturing purchasing manager's index, and services purchasing manager's index as dependent variables; and the number of confirmed cases of COVID-19, the number of deaths caused by COVID-19, and the mortality rate of COVID-19 infections as independent variables. The results showed a relatively rapid and robust effect of COVID-19 in the short period, but longer-term results depended on the region and were not so unambiguous: in the case of the Eurozone, the spread of COVID-19 pandemic did not affect the consumer-confidence index (CCI) or, in the cases of the United States and China, affected this index negatively; the purchasing managers' index (PMI) in the services sector was significantly negatively affected by the mortality risk of COVID-19 infection; and the impact on the purchasing managers' index (PMI) in the manufacturing industry appeared to be mixed.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: Journal of Risk and Financial Management ; ISSN: 1911-8074 ; Volume: 14 ; Year: 2021 ; Issue: 4 ; Pages: 1-23 ; Basel: MDPI

Classification and Topics

• Classification: Wirtschaft
• Subject: COVID-19 pandemic ; consumer confidence ; economic sentiment ; leading indicators

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Teresiene, Deimante ; Keliuotyte-Staniuleniene, Greta ; Liao, Yiyi ; Kanapickiene, Rasa ; Pu, Ruihui ; Hu, Siyan ; Yue, Xiao-Guang
• Event: Veröffentlichung
• (who): MDPI
• (where): Basel
• (when): 2021

Further information

• DOI: doi:10.3390/jrfm14040159
• Handle: http://hdl.handle.net/10419/239575
• Last update: 10.03.2025, 11:44 AM CET