Global consumer confidence continues to show stability

Ipsos’ Global Consumer Confidence Index this month reads at 45.5, virtually unchanged (-0.1 point) for the second consecutive month and continuing to sit at its lowest level in more than a year. In addition, the Expectations, Investment, and Jobs’ sub-indices show little movement from October.  

The Global Consumer Confidence Index is the average of all surveyed countries’ National Indices. This month’s installment is based on a monthly survey of more than 17,000 adults under the age of 75 from 23 countries conducted on Ipsos’ Global Advisor online platform. This survey was fielded between October 21 and November 4, 2022.

The Global Consumer Sentiment index continues to remain around three points lower than it was before the invasion of Ukraine in February. In total, 16 of the 23 countries surveyed now show a National Index score that is significantly lower than it was in February, while just five (Brazil, Saudi Arabia, Turkey, India, and Mexico) show one that is significantly higher.

The downward trend in overall sentiment continues to be starkest in European countries, the United States, Canada, and Japan. In all G7 countries—the U.S., Canada, France, Germany, Great Britain, Italy, and Japan—consumer confidence continues to sit near its lowest levels in more than a year.

Israel (+2.7) is the only country to show a significant month-over-month gain in their National Index, while Spain (-2.5), France (-1.5), and Canada (-1.5) show a significant decline.

National Index Trends

Saudi Arabia (70.1) holds the highest National Index score this month, and it is the only country with a score above 70. China (69.5) and India (64.1) continue to be the only other countries with a National Index score above 60.

Just four other countries show a National Index above the 50-point mark: Australia (52.2), Brazil (51.5), the U.S. (50.9), and Mexico (50.5).

Brazil has gained nearly five points over the last three months, and it now sits at its highest point since March 2019. In contrast, Canada (48.0) continues its decline and now sits at its lowest point since February 2021.  

Nine countries now show a National Index below 40: South Africa (39.4), Spain (38.7), Belgium (38.0), South Korea (37.7), Japan (36.3), Poland (35.8), Argentina (34.4), Turkey (34.1), and Hungary (30.4). Consumer confidence in Spain has fallen below the 40-point mark for the first time since May 2021, while Hungary halts a six-month decline that left the country at its lowest point since November 2013.

Just four countries have a National Index score that is significantly higher than in January 2020, pre-pandemic: Saudi Arabia, India, Australia and Mexico. In contrast, it is significantly lower than it was then in 13 countries.

Jobs, Expectations, and Investment Index Trends

Among 23 countries:

• Canada is the only country to show a significant drop (at least 1.5 points) in its Expectations Index, indicative of consumers’ outlook about their future financial situation, local economy, and jobs environment. Italy, Israel, and Brazil all show significant gains.
• Five countries (Spain, France, Great Britain, Australia, and Canada) show a significant loss in their Investment Index, indicative of consumers’ purchasing and investment confidence and their financial situation and outlook. Israel and Argentina show significant gains.
• Israel, Saudi Arabia, and Italy show significant gains in their Jobs Index, while Sweden, Spain, and China show significant month-to-month drops.

About this study

These findings are based on data from Refinitiv/Ipsos’ Primary Consumer Sentiment Index (PCSI) collected in a monthly survey of consumers via Ipsos’ Global Advisor online survey platform. The results are based on interviews with a total of 17,000+ adults aged 18-74 in the United States of America, Canada, Israel, Turkey, and South Africa; and aged 16-74 in all other markets each month. The monthly sample consists of 1,000+ individuals in each of Australia, Brazil, Canada, China (mainland), France, Germany, Italy, Japan, Spain, Great Britain, and the U.S., and 500+ individuals in each of Argentina, Belgium, Hungary, India, Israel, Mexico, Poland, Saudi Arabia, South Africa, South Korea, Sweden, and Turkey.