Global Consumer Confidence Rebounds to Highest Level in Nine Months

Strongest Gains in Optimism Observed in Turkey, China, Argentina, Hungary, and Poland; Japan Is the Sole Market Showing a Significant Drop.

The author(s)

  • Nicolas Boyon Public Affairs, US
  • Chris Jackson Public Affairs, US
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Visit our interactive portal, Ipsos Consolidated Economic Indicators for graphic comparisons and trended data pertaining to the Ipsos Global Consumer Confidence Index and sub-indices -- and all the questions on which they are based.


At 50.2, July 2019’s Ipsos Global Consumer Confidence Index is up 0.6 points over last month, up 1.2 points vs. three months ago. The global index is back above the 50 mark for the first time since October 2018.

Eleven of the 24 markets surveyed see significant three-month gains in their National Index: Turkey (+5.1), mainland China (+4.5), Argentina (+3.7), Hungary (+3.3), Poland (+2.9), the United States (+2.4), India (+2.3), Canada (+2.2), Spain (+2.2), France (+1.9), and Russia (+1.5).

Japan is the only market showing a significant three-month decline in its National Index (down 2.8 points). Japan’s 39.9 index score is its lowest in three years.

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 74.1, followed by India (64.7), Saudi Arabia (63.1), and the United States (62.9). At the other end of the spectrum, Turkey and Argentina (36.9) tie for the lowest index score of all 24 markets (despite this month’s gains for Turkey), followed by South Korea (39.4), and Japan (39.9).

July 2019 - Global Consumer Index

Methodology: These findings are based on data from Refinitiv/Ipsos’ Primary Consumer Sentiment Index (PCSI) collected in a monthly survey of consumers from 24 countries via Ipsos’ Global Advisor online survey platform. For this survey, Ipsos interviews a total of 17,500+ adults aged 18-74 in the United States, Canada, China*, Israel, South Africa and Turkey, aged 19-74 in South Korea, and aged 16-74 in the other 17 countries, each month. The monthly sample consists of 1,000+ individuals in each of Australia, Brazil, Canada, mainland China, France, Germany, Italy, Japan, Spain, Great Britain and the United States, and 500+ individuals in each of Argentina, Belgium, Hungary, India, Israel, Mexico, Poland, Russia, Saudi Arabia, South Africa, South Korea, Sweden and Turkey. Data collected each month are weighted so that each country’s sample composition best reflects the demographic profile of the adult population according to the country’s most recent census data. Data collected each month are also weighted to give each country an equal weight in the total “global” sample. Online surveys can be taken as representative of the general working age population in Argentina, Australia, Belgium, Canada, France, Germany, Great Britain, Hungary, Italy, Japan, Poland, South Korea, Spain, Sweden, and the United States. Online samples in Brazil, mainland China, India, Israel, Mexico, Russia, Saudi Arabia, South Africa and Turkey are more urban, more educated and/or more affluent than the general population and the results should be viewed as reflecting the views of a more “connected” population.

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The author(s)

  • Nicolas Boyon Public Affairs, US
  • Chris Jackson Public Affairs, US

Consumer & Shopper