Global consumer confidence indexing at the same level as pre-pandemic

Sentiment in most countries is unchanged from last month despite Omicron.

Ipsos’ Global Consumer Confidence Index in the first month of 2022 reads at 48.6, exactly as it did in January 2020 before the COVID-19 pandemic. The global index is virtually unchanged from last month (down just two-tenths of one point) despite the rapid spread of the Omicron variant across the world.

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 December 24, 2021 and January 7, 2022.

Among the 24 countries surveyed, only six show any significant month-over-month change in their National Index score (at least +/- 1.5 points) and none of these changes exceeds two points.

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

National Index Trends

The Global Consumer Confidence Index has seen little movement over the past seven months, holding steady at around 48.5. While the global average score has barely changed from last month, four countries show significant gains in their National Index scores (Hungary +1.8, Russia +1.6, South Africa +1.6, and Brazil +1.6), and two countries show significant drops (China -1.7 and Italy -1.5).

  • The nine countries with a National Index above 50 remain unchanged from December 2021: China (68.8), Saudi Arabia (64.2), Sweden (61.3), India (60.0), Australia (57.1), the United States (55.7), Germany (53.6), Canada (52.2), and Great Britain (51.5).
  • Turkey (29.3) shows a slight gain of 0.6 from last month, it remains the only country with a National Index below 35.
  • This month is the first since August when India’s National Index is not recording significant month-over-month growth. It has regained all its losses since the beginning of the pandemic and is now half a point above its January 2020 recording (59.5).
  • Eight countries now enjoy a significantly higher level of consumer confidence than they did in January 2020, pre-pandemic: Australia, Sweden, Japan, Italy, France, Spain, South Korea, and Russia.
  • In contrast, the National Index of seven countries remains significantly lower than it was then: Poland, the U.S., 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 -0.1, Investment +0.3). Russia, Hungary, and Brazil each show significant gains (at least + 1.5 points) from last month across two out of three sub-indices. Both China and Italy experience a significant drop across two of the three sub-indices from December 2021.

  • The global Jobs Index, currently sitting at 56.7, shows minimal change from its December 2021 and January 2020 readings (both 56.4). Saudi Arabia, Italy, and Poland, as well as Russia, Mexico, Brazil, and Hungary all show significant changes; the former three countries post losses while the latter four post gains.
  • The global Investment Index reads at 42.2 (+0.3 from December). Significant month-on-month gains are shown by five countries with Hungary, Brazil, and South Africa boasting gains of 2.0 points or more. China (65.8) is the only country to see a significant drop (-2.3) from last month.
  • The global Expectations Index, which currently sits at 57.5, remains virtually unchanged from last month. The only significant changes from December 2021 are losses seen in Italy (-2.2), Canada (-1.8), Australia (-1.8), and China (-1.6).

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.