Global consumer confidence remains still

No significant change in sentiment since last month in most of survey’s 24 countries; global index on par with pre-pandemic level.

Ipsos’ Global Consumer Confidence Index this month reads at 48.7, unchanged from last month and exactly as it read in January 2020 before the Covid-19 pandemic.

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 January 21, 2022 and February 4, 2022.

Only two of the countries show any significant month-over-month change in their National Index score (at least +/- 1.5 points): Russia (+1.5 since January) and Japan (-2.6).

Globally, the Jobs, Investment, and Expectations sub-indices trend similarly. All three are showing little change from last month and remain at levels on par with their January 2020 readings.

National Index Trends

February marks another month of remarkable stability for the Global Consumer Confidence Index as it has remained within the same one-point range since July 2021.

  • Nine countries continue to show a National Index above 50: China (69.7), Saudi Arabia (64.0), Sweden (62.0), India (61.4), Australia (55.9), the United States (55.1), Germany (53.9), Great Britain (51.8), and Canada (51.6).
  • Turkey (29.2) continues to be the only country with a National Index below 35.
  • However, this month sees four new additional countries – India, Belgium, Great Britain, and South Africa – with a significantly higher index score than in January 2020, bringing the total number of countries who have achieved this milestone to twelve. The eight countries that already had done so are Sweden, Australia, Italy, Spain, France, Russia, South Korea, and Japan.
  • In contrast, the survey finds seven countries with a National Index still significantly lower than it was pre-pandemic: Poland, the United States, Brazil, Turkey, Hungary, Israel, and Argentina.

Jobs, Expectations, and Investment Index Trends

At a global level, all three sub-indices have hardly changed since last month (Jobs +0.2, Expectations -0.2, Investment +0.0). Russia is the only country to show significant gains (at least + 1.5 points) from last month across all three sub-indices and Japan is the only one to post significant losses across all three.

  • The global Jobs Index, currently sitting at 56.9, shows minimal change from both its January 2022 and January 2020 readings (at 56.7 and 56.4, respectively). Spain, South Africa, China, Russia, Sweden post significant gains vs. last month, while Japan and Saudi Arabia post losses.
  • The global Investment Index reads at 42.2, the same as last month. Significant month-on-month gains are shown by just two countries, India and Russia. Similarly, only three countries show significant drops from last month – Japan, Poland, and Israel.
  • The global Expectations Index, which currently sits at 57.3, remains relatively unchanged from last month (57.5). Significant changes are seen in just four countries: Japan (-2.4), Australia (-1.7), Mexico (-1.6), and Russia (+1.5).

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.

These findings are based on data from Refinitiv/Ipsos’ Primary Consumer Sentiment Index (PCSI) collected in a monthly survey of consumers from 24 markets via Ipsos’ Global Advisor online survey platform. For this survey, Ipsos interviews a total of 17,500+ adults aged 18-74 in the United States of America, Canada, Israel, Turkey, South Africa; and aged 16-74 in all other markets each month. The monthly sample consists of 1,000+ individuals in each of Australia, Brazil, Canada, China (mainland), France, Germany, Italy, Japan, Spain, Great Britain, and the U.S., and 500+ individuals in each of Argentina, Belgium, Hungary, India, Israel, Mexico, Poland, Russia, Saudi Arabia, South Africa, South Korea, Sweden, and Turkey.