Global Consumer Confidence Measures in at 50.4

This June, the Global Consumer Confidence Index measures at 50.4. Over the past three months, the Index has dropped by just 0.1 point, which represents a steady trend despite the growing uncertainty around global trade policies. Saudi Arabia (+5.3 to 57.9), Italy (+2.3 to 40.9) and South Korea (+2.0 to 47.7)see significant increases in their outlook (1.5 points or more). Gains in these four countries, though, are offset by significant decreases in five others. Turkey comes in with both the lowest index score (37.9) and the largest three-month drop (-4.2). South Africa (-3.8 to 43.1), Argentina (-3.3 to 42.5), Sweden (-2.9 to 61), and France (-2.4 to 43.3) also see significant drops. However, Sweden remains among the four countries with the highest index value, surpassed only by China (71.2), India (64.1), and the United States (61.9).

The Job Index this month sees a three-month rise of 0.8 point to 58.5. Canada (+4.3 to 68.6), Hungary (+3.6 to 59.4), Saudi Arabia (+3.2 to 52.3), Italy (+2.4 to 51.7), Spain (+1.9 to 49.6), and Russia (+1.6 to 48.4) experience significant increases, driving the global index’s growth. Comparatively, just two countries, Turkey (-3.2 to 43.6) and Argentina (-2.3 to 46.8) see significantly lower Job Index scores. Not only does Turkey suffer from the largest three-month drop, but its index value is also the second lowest among all 24 countries, behind only Brazil’s (34.7). At the other end of the spectrum, Sweden (72.5), China (72.4), and the U.S. (71.5) continue showing the highest Job Indices.

The Investment Index this month sees a 0.5-point decrease to 43.8. As usual, China (69.8) and India (66.0) show the most optimism when it comes to investing. The U.S. sees a 1.1-point drop (56.0) and loses its third-place status to Saudi Arabia (57.7). Saudi Arabia shows an impressive eight-point jump, the highest increase among all countries. Other countries showing significant increases are: South Korea (+3.2 to 38.2), Russia (+2.2 to 35.5), and Italy (+2.1 to 31.0). Countries with the lowest Investment Index scores are: Japan (29.6), Italy (31.0), Turkey (31.5), France (32.1), and Hungary (34.8). Those showing the largest drops are Sweden (-6.3 to 54.9), Turkey (-5.4), and France (-4.5).

The Expectations Index also shows a decrease this month, down 0.4 points to 59.2. China (73.5) is now the only country to report a value over 70 while Turkey (46.9) is the only country with a value below 50. Saudi Arabia (+3.6 to 63.3), Spain (+2.4 to 55.7), and Mexico (+2.3 to 59.8) see the highest three-month increases. South Africa shows a steep eight-point decrease this month to 55.3. Argentina (-2.9 to 56.8) and Turkey (-2.6 to 46.9) also experience significant declines.

This upcoming month’s consumer confidence snapshot will bear close watching. The introduction of new tariffs by the U.S. and retaliatory measures from its trading partners is raising concerns about an all-out trade war with destabilizing effects on the global economy. Ipsos will monitor how these events impact the economic confidence of consumers around the world.