Three G7 countries—Japan, Germany, and Canada—showed a gain of at least two points in their national index. Sentiment is also up notably in Turkiye, Thailand, Peru, and Hungary. On the other hand, consumer confidence in France has further declined this month (albeit by just one point) and now has its lowest point in more than two years. Sentiment is down from last month in Argentina and Chile, and most of all, in Israel, market research firm Ipsos said in a press release.
Among the 29 countries surveyed, Indonesia at 63.5 held the highest national index score this month and is the only country with a national index score above 60. Nine other countries showed a national index above the 50-point mark—Brazil at 57.9, Mexico at 56.2, India at 55.5, Singapore at 55.1, Thailand at 53.7, the Netherlands at 51.7, the US at 50.7, Germany at 50.3, and Malaysia at 50.2.
In contrast, nine countries now showed a national index below the 40-point mark—France at 39.8, Chile at 39.3, South Africa at 39.1, Japan at 38.8, South Korea at 38.8, Poland at 37.1, Turkiye at 36.8, Hungary at 34.7, and Argentina at 33.6.
Compared to 12 months ago, Sweden at -8.0 and Hungary at -7.4 continue to show the steepest drops in consumer sentiment. Brazil at 11.3 and Turkiye at 10.5 now showed the largest gains.
Ipsos’ global consumer confidence index (based on all 29 countries surveyed) currently reads at 46.2. Based only on the ‘legacy 20 countries’, it would read at 44.2, in line with its readings from the past three months.
The current sub-index, reflecting consumers’ perceptions of the economic climate and their current purchasing, jobs, and investment confidence, showed a slight uptick from last month across the 29 countries of 0.6 point to 36.1. Ten countries showed a significant month-over-month gain (at least 2 points) in their current index, compared to just five countries that showed a significant loss.
The investment sub-index, indicative of consumers’ perception of the investment climate, recorded a 29-country average increase of 0.5 point since last month to 38.3. Nine countries showed a significant gain, while Israel and Argentina are the only countries to show significant losses.
The expectations sub-index, indicative of consumer expectations about future economic conditions, is virtually unchanged at 0.1 point and sits at 55.8. The economic outlook continues to improve in Turkiye, which is up 5 points since last month and up 13 points since last year. In total, four countries showed significant gains in their expectations index, and four showed significant losses.
The jobs sub-index, reflecting perceptions about jobs security and the jobs market, showed stability at 0.3 and was at 56.1 this month. Similar to the expectations index, the outlook in Turkiye is up significantly. Seven countries showed significant gains in their jobs index, while five countries showed significant losses.
The global consumer confidence index is the average of all surveyed countries’ overall or ‘national’ indices. This month’s instalment is based on a monthly survey of more than 21,000 adults under the age of 75 from 29 countries conducted on Ipsos’ Global Advisor online platform. This survey was fielded between March 24 and April 7, 2023.
ALCHEMPro News Desk (NB)
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