September 2025: Global consumer confidence stable for third consecutive month
Ipsos’ Global Consumer Confidence Index holds steady this month (-0.1 point) and sits at 48.0. The index shows stability for the third consecutive month but is now 1.1 points below its reading from this time last year.
Among 30 economies measured, three countries show significant gains in consumer sentiment, and three countries show a notable decline. While the overall index is stable, the sub-indices have shifted in opposite directions this month. The Current sub-index is the only one to show stability. The Investment sub-index shows an uptick (+0.6 point), while the Expectations (-0.5 point) and Jobs’ (-0.9 point) sub-indices both declined this month.
Based only on the “legacy 20 countries” tracked since March 2010, the Index would read at 46.5, nearly unchanged (+0.1 point) from August.
Sentiment is largely up in the Middle East and Africa. South Africa (+3.7 points) shows the largest increase among all countries, and Türkiye (+2.8 points) is also up significantly. No country in the Middle East and Africa declined significantly this month.
In contrast, consumer confidence is largely down in the Asia Pacific. Malaysia (-5.3 points) and Indonesia (-5.2 points) show the largest declines among all countries, while no country in the Asia-Pacific increased significantly this month.
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 August 22 and September 5, 2025.
Consumer sentiment in 30 countries
Among the 30 countries, India (57.0) holds the highest National Index score. For the second consecutive month and just the third time since January 2022, 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: Singapore (54.4), Sweden (54.4), Malaysia (54.1). Australia (53.9), the Netherlands (52.8), Mexico (52.7), the U.S. (52.4), Indonesia (52.3), Brazil (51.7), Poland (50.6), and Ireland (50.0).
In contrast, just four countries show a National Index below the 40-point mark: France (39.9), Japan (37.3), Türkiye (35.4), and Hungary (34.7).
Compared to 12 months ago, thirteen countries now show a significant drop in consumer sentiment. In contrast, seven countries show a significant increase from August 2024, most of all in South Korea (+6.7 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 46.5.
The Current sub-index, reflecting consumers’ perceptions of the economic climate and their current purchasing, jobs, and investment confidence, shows stability this month (+0.4 point compared to August 2025) and sits at 38.7. In total, seven countries show a significant month-over-month gain (at least 2 points) in their Current sub-index, while four countries show a significant loss.
The Investment sub-index, indicative of consumers’ perception of the investment climate, is up 0.6 point this month and now sits at 41.2. Ten countries show a significant gain in their Investment sub-index this month, while just three countries show a significant loss.
The Expectations sub-index, indicative of consumer expectations about future economic conditions, is down for the second consecutive month (-0.5 point) and now sits at 55.6. Just two countries show significant gains in their Expectations sub-index, compared to seven countries that show a significant loss.
The Jobs sub-index, reflecting perceptions about jobs security and the jobs market, is down 0.9 point this month and is now at 57.2. Peru is the only country to show a significant gain in its Jobs sub-index, compared to eight countries that show significant losses.
Of note, Malaysia and Sweden show significant losses (of at least 2 points) across all four sub-indices. In contrast, no countries show significant month-over-month gains across all four sub-indices.
