Consumer confidence continues to decline sharply across all three Latin American markets surveyed with three-months drops of 7.7 points in Mexico, 5.4 points in Brazil, and 5.1 points in Argentina. South Africa shows a similar pattern with a three-month decline of 4.1 points. After experiencing uninterrupted gains for more than a year, Saudi Arabia also records a notable drop in its National Index (down 1.7 points over the past three months).
In contrast, six of the 24 countries surveyed see significant three-month gains in their National Index: mainland China (+2.5 points), Sweden (+2.4), Spain (+2.1), Belgium (+2.0), Israel (+2.0), and Russia (+1.9). Consumer confidence in the United States gives signs of rebounding slowly as its National Index is up slightly over the past month (+1.2) and the past three months (+0.7), although it remains lower than a year ago by more than two points.
The Consumer Confidence Index, also called the “National Index,” reflects consumer attitudes on the current and future state of their local economy, their personal finance situations, their savings and their confidence to make large investments. Mainland China continues to enjoy the highest National Index with a score of 70.3, followed by India (64.7), Saudi Arabia (62.0), and the United States (61.4). At the other end of the spectrum, Turkey and Argentina (33.4) tie for the lowest index score of all 24 markets, followed by South Africa (39.1), South Korea (39.9), and Russia (40.3).