Global consumer confidence getting closer to pre-pandemic level

At 44.7, this month’s Ipsos Global Consumer Confidence Index is up by eight-tenths of a point over last month, marking a new high since the start of the COVID-19 pandemic a year ago.
The Global Consumer Confidence Index is the average of 24 world markets’ 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 February 19 and March 5, 2021.
Six of the 24 surveyed markets show significant growth in their National Index when compared to February 2021: Great Britain (+3.6), the United States (+2.2), Belgium (+1.8), Canada (+1.7), Japan (+1.7), and Turkey (+1.6). Meanwhile, not a single market has experienced a significant drop, defined as 1.5 index points or more.

National Index Trends

Roughly one year after the World Health Organization declared COVID-19 a pandemic on March 11, 2020, the Global Consumer Confidence Index comes in at 44.7, about four points below where it was then (48.5) as well as a couple of months earlier, in January 2020 (48.7), just before the world had heard of the coronavirus. With a 0.8-point uptick over February 2021’s reading, the index shows a monthly increase for the fourth straight month.

• With a National Index above 50, China (71.8), Saudi Arabia (62.9), India (56.9), Sweden (55.9), Australia (55.4), the United States (52.5), and Germany (51.9) are the highest indexing markets surveyed.
• Just two markets have a National Index below 35: South Africa (34.7) and Turkey (33.6). Neither country’s index has surpassed 35 since early 2020 (April and March, respectively).
• Although Great Britain’s National Index continues to trail that of other countries, it shows significant growth this month. It is up 3.6 points to 48.4, just 1.8 points below its January 2020 level (50.2).

Expectations, Jobs, and Investment Index Trends

The Expectations, Jobs, and Investment Indices all display growth since February 2021. Among the 24 markets surveyed, Great Britain and the United States post significant gains for each index.

• The global Jobs Index is up slightly, with a month-on-month gain of 0.8 point to 49.8, but it still trails its January 2020 reading by 6.6 points. Great Britain and Turkey show the largest growth in their Jobs Index since last month, and no country posts a significant decline. However, China (+3.7) is the only market whose Jobs Index now surpasses its January 2020 reading.
• The global Investment Index currently reads at 39.2, up 0.7 point from last month. Great Britain, the United States, and Belgium all post increases of more than 2 points. At the same time, Saudi Arabia, Brazil, and Hungary display month-on-month deficits.
• The global Expectations Index, indicative of consumers’ outlook on their local economy, financial situation, and employment rings in at 55.5. It displays the largest gain across indices and trails its January 2020 reading by just 1.5 points. As with the Jobs Index, none of the markets surveyed show a significant drop in their Expectations Index over last month. Great Britain posts the greatest month-on-month increase of 5.1 points.