Global consumer confidence almost back to pre-pandemic level

Ipsos’ Global Consumer Confidence Index gains 1.0 point from last month, now reading at 48.3. Both the Jobs and Investment Indices see significant growth from last month, increasing by 1.2 and 1.1 points, respectively.

The Global Consumer Confidence Index is the average of 24 countries’ National Indices. It is based on a monthly survey of more than 17,500 adults under the age of 75 conducted on Ipsos’ Global Advisor online platform. This survey was fielded between June 25 and July 9, 2021.

Eleven of the 24 countries surveyed show significant growth in their National Index when compared to the previous month: Argentina (+2.9), Germany (+2.7), Italy (+2.7), Brazil (+2.4), Canada (+2.3), Mexico (+1.9), Poland (+1.9), Turkey (+1.5), Hungary (+1.5), France (+1.5) and Belgium (+1.5). Only one country, South Africa (-1.8), displays a significant decline from June.

Global consumer confidence almost back to pre-pandemic level

National Index Trends

With a month-on-month gain of 1.0 point, the Global Consumer Confidence Index reads at 48.3. This is the eighth consecutive month of gains, marking a 6.2 point increase from November 2020.

• This month, 10 countries have a National Index above 50: China (73.3), Saudi Arabia (64.9), the United States (61.9), Sweden (59.5), Germany (57.6), Australia (56.1), Great Britain (56.1), Canada (53.4), India (50.9), and Israel (50.1).
• Turkey (30.0) remains the only country with a National Index below 35.
• Argentina (+2.9) displays the most growth from last month, yet it remains below the average of 48.3 by more than 11 points. Italy (+2.7) and Brazil (+2.4) also see significant gains while remaining below the average by 2.6 and 5.6 points, respectively.

Expectations, Jobs, and Investment Index Trends

At a global level, the Jobs and Investment Indices display significant month-on-month gains (at least 0.5 points), while the Expectations Index slows the growth and remains statistically unchanged from June. Five countries see significant gains (at least 1.5 points) across all three indices: Argentina, Brazil, Canada, Italy, and Germany. None of the countries surveyed record significant drops on all three, partly because no countries record a significant drop in the Investment Index.

• The global Jobs Index is up 1.2 points from June 2021 and currently sits at 54.4. This month marks another pandemic high, but it is still below March 2020 (57.0) reading, and it remains 2.0 points below its reading in January 2020. Turkey, Argentina, Italy, Canada, and Brazil display the largest gains, while South Africa is the only market to show a significant month-over-month loss in the measure.
• Marking another month of significant gains, the global Investment Index currently sits at 42.5. The Investment Index is up 1.1 points from last month and reaches its highest reading since October 2019 (42.7). The largest month-on-month gains are seen in Germany, Argentina, Brazil, Italy, and Poland.
• At 58.6, the Expectations Index slows its growth and does not significantly differ from the previous month. However, the Expectations Index is now 1.6 points higher than in January 2020, and is at its highest reading since August 2018 (58.7). Argentina, Italy, Canada, Germany, Belgium, and Brazil show significant month-on-month gains. South Africa, Russia, Saudi Arabia display a significant drop compared to last month, and five countries remain significantly below their January 2020 readings (Argentina, South Africa, Turkey, Japan, and India).