October 2025: Global consumer confidence stable for fourth consecutive month

Ipsos’ Global Consumer Confidence Index is unchanged this month and remains at 48.0. The index shows stability for the fourth consecutive month but still sits 1.1 points below its reading from this time last year.

Among 30 economies measured, six countries show significant gains in consumer sentiment, and five countries show a notable decline. While the overall index is stable, there is some shift among the sub-indices. The Current sub-index declined this month, while the Expectations sub-index shows an uptick. In contrast, the Investment and Jobs sub-indices both show stability. 

Based only on the “legacy 20 countries” tracked since March 2010, the Index would read at 46.3, down an insignificant 0.2 point from September. 
Sentiment is largely up in the Asia-Pacific. Indonesia (+6.5 points) shows the largest increase among all countries, and Thailand (+3.6 points), South Korea (+2.6 points), and Malaysia (+2.1 points) are all up significantly. However, Australia (-2.1 points) and Japan (-2.0 points) show declines this month.

In contrast, consumer confidence is mixed in Latin America. Argentina (-3.5 points) and Colombia (-3.1 points) show the largest declines among all countries, while Brazil (+2.2 points) is up significantly. 

The Global Consumer Confidence Index is the average of all surveyed countries’ Overall or “National” indices. This month’s installment is based on a monthly survey of more than 21,000 adults under the age of 75 from 30 countries conducted on Ipsos’ Global Advisor online platform. This survey was fielded between September 19 and October 3, 2025. 

* A Flourish table

Consumer sentiment in 30 countries 

Among the 30 countries, Indonesia (58.8) holds the highest National Index score. For the third consecutive month, no country this month has a National Index score of 60 or higher.

Eleven other countries now show a National Index at or above the 50-point mark: India (58.4), Malaysia (56.2), Sweden (54.9), Brazil (53.9), Mexico (53.5), Thailand (53.4), the U.S. (52.9), the Netherlands (52.7), Singapore (52.6), Australia (51.8), and Poland (50.4). 

In contrast, just three countries show a National Index below the 40-point mark: Hungary (37.3), Japan (35.2), and Türkiye (34.9).  

Of note, sentiment in South Korea has reached its highest point since tracking began in March 2010.

Compared to 12 months ago, thirteen countries now show a significant drop in consumer sentiment. In contrast, five countries show a significant increase from October 2024, most of all in South Korea (+8.2 points).

Trends

Ipsos’ Global Consumer Confidence Index (based on all 30 countries surveyed) currently reads at 48.0. Based only on the “legacy 20 countries” tracked since March 2010, it would read at 46.3.

The Current sub-index, reflecting consumers’ perceptions of the economic climate and their current purchasing, jobs, and investment confidence, is down 0.5 point this month and sits at 38.2. In total, six countries show a significant month-over-month gain (at least 2 points) in their Current sub-index, while eleven countries show a significant loss.  

The Investment sub-index, indicative of consumers’ perception of the investment climate, shows stability this month (-0.4 point) and now sits at 40.8. Five countries show a significant gain in their Investment sub-index this month, compared to eight countries that show a significant loss. 

The Expectations sub-index, indicative of consumer expectations about future economic conditions, is up 1.2 points this month and now sits at 56.8. Twelve countries show significant gains in their Expectations sub-index, while just two countries show a significant loss.

The Jobs sub-index, reflecting perceptions about jobs security and the jobs market, is nearly unchanged (+0.1 point) this month and is now at 57.3. Five countries show significant gains in their Jobs sub-index, compared to four countries that show significant losses.

Of note, Colombia is the only country to show significant losses (of at least 2 points) across all four sub-indices. In contrast, Thailand is the only country to show significant month-over-month gains across all four sub-indices.