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  • 标题:The Impact of the COVID-19 Pandemic on Consumer and Business Confidence Indicators
  • 本地全文:下载
  • 作者:Teresiene, Deimante ; Keliuotyte-Staniuleniene, Greta ; Liao, Yiyi
  • 期刊名称:Journal of Risk and Financial Management
  • 印刷版ISSN:1911-8074
  • 出版年度:2021
  • 卷号:14
  • 期号:4
  • 页码:1-23
  • DOI:10.3390/jrfm14040159
  • 语种:English
  • 出版社:MDPI, Open Access Journal
  • 摘要: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.
  • 关键词:COVID-19 pandemic; economic sentiment; consumer confidence; leading indicators
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