February 2025: Consumer confidence stable following last month’s uptick
Ipsos’ Global Consumer Confidence Index is up an insignificant 0.2 points since last month and sits at 48.8. The shows stability and is now in line with its reading from this time last year (-0.3 point).
Among 29 economies measured, five countries show significant gains in consumer sentiment from January to February, while four countries show a notable decline. All four sub-indices show stability this month.
Based only on the “legacy 20 countries” tracked since March 2010, the Index would read at 46.6, virtually unchanged (+0.2 point) since January.
Sentiment is mixed in Latin America. Mexico (+4.4 points) and Chile (+2.1 points) are both up significantly. In contrast, Brazil (-2.2 points) shows a significant decline.
Consumer confidence is also mixed in Europe. Hungary (-2.9 points) and Great Britain (-2.4 points) are both down significantly, while sentiment in Italy (+3.1 points) has risen to its highest point since October 2021.
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 29 countries conducted on Ipsos’ Global Advisor online platform. This survey was fielded between January 24 and February 7, 2025.
Consumer sentiment in 29 countries
Among the 29 countries, Indonesia (64.2) holds the highest National Index score. It is the only country with a National Index score of 60 or higher.
Ten other countries now show a National Index at or above the 50-point mark: Mexico (59.7), India (58.0), Singapore (57.7), Malaysia (55.6), the U.S. (55.3), Thailand (54.6), Sweden (54.1), the Netherlands (52.3), Argentina (52.0), and Poland (50.0).
In contrast, only three countries now show a National Index below the 40-point mark: Japan (37.3), Hungary (35.1), and Türkiye (33.3).
Compared to 12 months ago, seven countries show a significant drop in consumer sentiment. In contrast, nine countries show a significant increase from February 2024, most of all in Argentina (+10.4 points).
Trends
Ipsos’ Global Consumer Confidence Index (based on all 29 countries surveyed) currently reads at 48.8, up an insignificant 0.2 point since January. Based only on the “legacy 20 countries” tracked since March 2010, it would read at 46.6.
The Current sub-index, reflecting consumers’ perceptions of the economic climate and their current purchasing, jobs, and investment confidence, is unchanged and remains at 39.5. Seven countries show a significant month-over-month gain (at least 2 points) in their Current sub-index, and eight countries show a significant loss.
The Investment sub-index, indicative of consumers’ perception of the investment climate, is nearly unchanged (-0.1 point) and is now at 41.9. In total, eight countries show a significant gain in their Investment sub-index this month, and eight countries show a significant loss.
The Expectations sub-index, indicative of consumer expectations about future economic conditions, is up an insignificant 0.4 point and now sits at 57.2. Six countries show significant gains in their Expectations sub-index, while just three show a significant loss.
The Jobs sub-index, reflecting perceptions about jobs security and the jobs market, shows stability for the fourth consecutive month (+0.3 point) and is now at 58.2. Six countries show significant gains in their Jobs sub-index, compared to just four that show a significant loss.
Of note, no countries show significant losses (of at least 2 points) across all four sub-indices. In contrast, Mexico and South Korea show significant month-over-month gains across all four sub-indices.