Ipsos’s Global Consumer Confidence Index is now reading at 48.5, down just 0.1 point from September. As many countries struggle to contain the spread of COVID-19 variants, global consumer sentiment is virtually unchanged for the third consecutive month.
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 September 24 and October 8, 2021.
Of the 24 countries surveyed, only India, Japan, and South Africa see significant gains in their National Index scores from last month, each by about 2 points. Argentina (-1.7) is the only country to experience a significant drop in consumer sentiment since September.
At the global level, the Investment Index dropped by 0.5 point after three months of stability. The Jobs (+0.2) and Expectations (0.0) Indices are still holding steady and remain unchanged from September.
National Index Trends
Global consumer sentiment holds steady for a third consecutive month. The Global Consumer Confidence Index reads at 48.5 this month, remaining at nearly the same level since July (48.3). This month’s reading is the same as in March 2020, just before the start of the pandemic, and is 0.2 points below where it stood in January 2020 (48.7).
- This month, nine countries have a National Index above 50: China (72.0), Saudi Arabia (64.3), Sweden (60.1), the U.S. (58.2), India (57.2), Germany (56.5), Canada (54.8), Australia (54.1), and Great Britain (53.5).
- Turkey (28.9) remains the only country with a National Index below 35.
- India (+2.1), Japan (+1.9), and South Africa (+1.9) display the most growth from last month, though Japan and South Africa remain below the global average of 48.5 by 7.0 and 11.4 points, respectively.
- It is the third consecutive month that India sees meaningful growth in consumer confidence.
Jobs, Expectations, and Investment Index Trends
The global Investment Index has fallen by 0.5 point since September while the Expectations and Jobs Indices have hardly changed. While no country shows significant change (at least +/- 1.5 points) from last month across all three sub-indices, South Africa and Japan each see a meaningful increase in two sub-indices. Conversely, Argentina and Great Britain each see a significant drop across two sub-indices.
- The global Jobs Index, currently sitting at 55.7, remains practically unchanged from September (55.6) and is still slightly below its January 2020 reading (56.4). South Africa is the only country to display a significant gain, while Hungary, Argentina, and China all experience a significant month-over-month loss.
- After three months of stability, the global Investment Index drops by 0.5 point to 42.1. This is the first time the Investment Index has dropped in 16 months. India and Japan each see significant month-on-month gains while Argentina, Israel, Great Britain, France, Brazil, Sweden, Hungary, and Mexico all see a significant drop from last month.
- The global Expectations Index, which currently sits at 58.2, experiences no change from last month. Expectations are up significantly from last month in South Africa and Japan. Only Great Britain sees a significant drop in expectations since September. Expectations remain significantly lower than their January 2020 level in six countries: Argentina, Turkey, Israel, the U.S., Mexico, and South Africa.
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.