November 2025 LSEG/Ipsos Primary Consumer Sentiment Index

Washington DC, November 14, 2025--The LSEG/Ipsos Primary Consumer Sentiment Index for November 2025 is at 51.3. Fielded from October 24 – 31, 2025, the Index is down 1.5 points from last month.

The index has declined more than a point for the second time in three months. It now sits more than four points lower than its reading from this time last year.

The Current sub-index is down for the fourth consecutive month, while the Investment sub-index is down for the second consecutive month. The Current sub-index now sits about one point lower than its reading from this time last year, while the Investment sub-index is now more than one point below its November 2024 reading.

The Expectations sub-index is down nearly three points this month and shows the largest decrease among the sub-indices. It now sits more than nine points below its reading from this time last year.

Lastly, the Jobs sub-index is down nearly one point this month. It remains more than five points lower than its reading from a year ago.

The Current Index reads at 43.1, down 0.7 point from last month. The index now sits 0.9 point lower than its reading from this time last year (44.0).

The Expectations Index reads at 56.6, down 2.7 points this month. The index now sits 9.4 points lower than its November 2024 reading (66.0).

The Investment Index is at 45.0, down 1.5 points from October. The index is now 1.4 points below its November 2024 reading (46.3).

The Jobs Index reads at 62.9, down 0.8 point from October. The index is now 5.6 points below its reading from a year ago (68.4).

About the Study

These findings are based on data from a monthly 30-country survey conducted by Ipsos on its Global Advisor online survey platform and, in India, on its IndiaBus platform. They are first reported each month by LSEG as the Primary Consumer Sentiment Index (PCSI).

This survey was fielded between October 24 and October 31, 2025. The sample includes 1,000 Americans aged 18-74.

The data is weighted so that the composition of the sample in each country best reflects the demographic profile of the adult population according to the most recent census data.

The LSEG/Ipsos Primary Consumer Sentiment Index (PCSI), ongoing since 2010, is a monthly survey of consumer attitudes on the current and future state of their local economy, personal financial situation, savings, and confidence to make major investments. The PCSI metrics reported each month for each of the countries surveyed consist of a “Primary Index” based on all 10 questions below and of several “sub-indices” each based on a subset of these 10 questions.

About Ipsos

Ipsos is one of the largest market research and polling companies globally, operating in 90 markets and employing nearly 20,000 people.

Our passionately curious research professionals, analysts and scientists have built unique multi-specialist capabilities that provide true understanding and powerful insights into the actions, opinions and motivations of citizens, consumers, patients, customers or employees. Our 75 business solutions are based on primary data from our surveys, social media monitoring, and qualitative or observational techniques.

“Game Changers” – our tagline – summarizes our ambition to help our 5,000 clients navigate with confidence our rapidly changing world.

Founded in France in 1975, Ipsos has been listed on the Euronext Paris since July 1, 1999. The company is part of the SBF 120, Mid-60 indices, and is eligible for the Deferred Settlement Service (SRD).

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