April 2026: Global consumer confidence declines sharply amid ongoing U.S.-Iran War

Ipsos’ Global Consumer Confidence Index is down 2.7 points this month and sits at 46.7. Many countries appear to be feeling negative effects as a result of the ongoing U.S.-Iran War, which is currently in its seventh week. 

The index shows its second biggest decline ever, only behind April 2020 (the first reading after the start of the COVID-19 pandemic). Similarly, it is only the second time the index has increased or declined by at least two points. It now sits one point below its reading from the same time last year.

Among 30 economies measured, twenty countries show significant declines in consumer sentiment, while no countries show a notable gain. All four sub-indices are down significantly this month. 

Based only on the “legacy 20 countries” tracked since March 2010, the Index would read at 44.8, a 2.5-point decline from March. 

Each region shows a decline in sentiment this month. However, consumer confidence showed the biggest drop in the Asia-Pacific, as five of the six largest declines came from this region: Thailand (-10.9 points), Malaysia (-6.1 points), South Korea (-5.1 points), Japan (-4.7 points), and Australia (-4.6 points).

Consumer sentiment also fell sharply in Europe, as nine countries showed a significant decline this month: Italy (-4.4 points), Ireland (-4.3 points), Belgium (-4.2 points), Spain (-4.1 points), France (-3.9 points), Germany (-2.9 points), the Netherlands (-2.8 points), Great Britain (-2.7 points), and Poland (-2.7 points).

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 30 countries conducted on Ipsos’ Global Advisor online platform.

This survey was fielded between March 20 and April 3, 2026.

Consumer sentiment in 30 countries 

Among the 30 countries, India  (66.2) holds the highest National Index score. India is the only country this month to hold a National Index score of 60 or higher.

Seven other countries now show a National Index at or above the 50-point mark: Indonesia (57.6), Sweden (55.9), Malaysia (54.8), Mexico (54.0), Colombia (53.3), Singapore (50.1), and the U.S. (50.0). 

In contrast, three countries now show a National Index below the 40-point mark: France (38.1), Japan (37.7), and Türkiye (34.7). 

Compared to 12 months ago, fifteen countries now show a significant drop in consumer sentiment. In contrast, seven countries show a significant increase from April 2025, most of all in Colombia (+7.1 points).

Trends

Ipsos’ Global Consumer Confidence Index (based on all 30 countries surveyed) currently reads at 46.7. Based only on the “legacy 20 countries” tracked since March 2010, it would read at 44.8.
The Current sub-index, reflecting consumers’ perceptions of the economic climate and their current purchasing, jobs, and investment confidence, is down 2.7 points this month and now sits at 37.2. In total, two countries show a significant month-over-month gain (at least 2 points) in their Current sub-index, while twenty-one countries show a significant loss.  

The Investment sub-index, indicative of consumers’ perception of the investment climate, declined 2.8 points this month and is now at 39.5. Two countries show a significant gain in their Investment sub-index this month, compared to twenty countries that show a significant loss. 

The Expectations sub-index, indicative of consumer expectations about future economic conditions, is down 3.6 points this month and now sits at 54.3. No countries show significant gains in their Expectations sub-index, while twenty countries show significant losses.

The Jobs sub-index, reflecting perceptions about jobs security and the jobs market, declined 1.7 points this month and is now at 56.9. Two countries show significant gains in their Jobs sub-index, and twelve countries show significant losses.

Of note, France, Ireland, Japan, Malaysia, the Netherlands, Poland, Spain, and Thailand show significant losses (of at least 2 points) across all four sub-indices. In contrast, no countries show significant month-over-month gains across all four sub-indices.