Sinking Global Economy Affects Consumer Confidence

(January 11, 2008 - PATA) -- PATA is warning that rising oil prices, the spread of the sub-prime credit issue in international markets and the slow down in the U.S. economy are all taking their toll on world consumer confidence.

According to the latest Global Consumer Confidence Study conducted by The Nielsen Company, more than a quarter of global consumers expect a global recession in 2008, resulting in a dip in confidence in 21 of the 48 markets surveyed. Globally, more than 50 percent of people are concerned that a recession will lead to unemployment and inflation.

Thai, Chinese Taipei and Italian consumers are most pessimistic about a global recession in the next 12 months. However, 40 percent of the world’s consumers do not believe there will be a global recession next year. For more information, visit www.pata.org.

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