As Delta spreads, global consumer confidence is frozen in place
Ipsos’s Global Consumer Confidence Index is now reading at 48.6, up just 0.1 point from last month. As the Delta variant spreads across the globe, global consumer sentiment remains frozen in place, with the September reading marking three consecutive months with nearly no change in consumer confidence.
The Global Consumer Confidence Index is the average of 24 countries’ National Indices. It is based on a monthly survey of more than 17,500 adults under the age of 75 conducted on Ipsos’ Global Advisor online platform. This survey was fielded between August 20 and September 3, 2021.
India is the only country out of the 24 surveyed to show significant change in its National Index score – an increase of 2.1 points since last month.
At a global level, the Jobs Index sees its ninth consecutive month of growth (+0.5 point), but the Investment and Expectations Indices remain nearly the same (both -0.1).
National Index Trends
The spread of the Delta variant has brought global consumer confidence to a halt. The Global Consumer Confidence Index reads at 48.6, remaining nearly the same since July (48.3). This month’s reading is the same as in January 2020 and is 0.1 point higher than it was in March 2020, days before the global pandemic was declared by the World Health Organization.
- This month, nine countries have a National Index above 50: China (71.8), Saudi Arabia (64.5), Sweden (60.6), the U.S. (59.0), Germany (57.1), India (55.0), Great Britain (55.0), Canada (53.9), and Australia (53.4).
- Turkey (29.4) is the only country with a National Index below 35.
- India (+2.1) is the only country to experience significant growth since last month. No country surveyed experienced a drop of more than 1.4 points.
Jobs, Expectations, and Investment Index Trends
The global Jobs Index is up by 0.5 point from August while the Expectations and Investment Indices have hardly changed (both -0.1). Few countries show significant changes (at least +/- 1.5 points) from last month on any of the sub-indices. India is the only country to experience meaningful change across multiple sub-indices (Jobs and Investment).
- The global Jobs Index, currently sitting at 55.6, is the only sub-index to display meaningful growth this month, up by 0.5 point from August 2021. Despite achieving nine consecutive months of growth, it is still below the March 2020 reading (57.0) and remains 0.8 points below its reading of January 2020 (56.4). India, Sweden, and Turkey display the largest gains, while no country shows a significant month-over-month loss.
- The global Investment Index currently sits at 42.6 (-0.1 since August 2021), remaining practically unchanged since July (42.5). India is the only country to see significant month-on-month gains while Germany, Australia, and Israel see a significant drop from last month.
- The global Expectations Index, which also remains nearly the same as last month, sits at 58.1 (-0.1). Expectations in North America are down significantly from last month (U.S. -1.7, Canada -1.6), while no country shows any significant month-on-month gain for the second month in a row. Expectations remain significantly lower than their January 2020 level in six countries: Argentina, Turkey, South Africa, Israel, Japan, and the U.S.
Visit our interactive portal, Consolidated Economic Indicators for graphic comparisons and trended data pertaining to the Ipsos Global Consumer Confidence Index and sub-indices—and all the questions on which they are based.
