Ipsos SA

09/20/2024 | News release | Distributed by Public on 09/20/2024 05:44

September 2024: Consumer confidence largely up Latin American countries

Ipsos' Global Consumer Confidence Index shows no significant change since last month (+0.4 point) and is now at 49.1. The index shows stability for the sixth consecutive month and is more than a point higher than its reading from this time last year.

Among 29 economies measured, seven show significant gains in consumer sentiment, and five show a notable decline.

Based only on the "legacy 20 countries" tracked since March 2010, the Index would read at 47.4, virtually unchanged (+0.1 point) from August. The "legacy 20" index remains about two points higher than its reading from this time last year.

The Expectations index is the only sub-index to show a significant gain this month. The Current, Investment, and Jobs indices all remained stable.

Sentiment is largely up in Latin America. Mexico (+3.9 points) and Peru (+3.2 points) both show significant gains this month.

Consumer confidence is mixed among European countries. Sentiment is up in both Germany (+4.7 points) and France (+3.2 points). Both countries have risen to their highest point in more than two years. In contrast, sentiment is down in Sweden (-3.3 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 29 countries conducted on Ipsos' Global Advisor online platform. This survey was fielded between August 23 and September 6, 2024.

Consumer sentiment in 29 countries

Among the 29 countries, Singapore (62.5) now holds the highest National Index score. Singapore, along with India (62.0) and Indonesia (61.5) are the only countries with a National Index score of 60 or higher.

Eleven other countries now show a National Index above the 50-point mark: the Netherlands (57.4), Mexico (55.9), the U.S. (55.0), Great Britain (54.1), Sweden (54.0), Germany (53.7), Thailand (52.1), Brazil (51.3), Malaysia (51.2), South Africa (50.5), and Australia (50.2).

In contrast, just four countries show a National Index below the 40-point mark: South Korea (39.7), Japan (39.4), Hungary (36.4), and Türkiye (30.8).

Compared to 12 months ago, just three countries show a significant drop in consumer sentiment. In contrast, eleven countries show a significant increase, most of all in Argentina (+12.3), and Germany (+8.7).

Trends

Ipsos' Global Consumer Confidence Index (based on all 29 countries surveyed) currently reads at 49.1, up an insignificant 0.4 point since August. Based only on the "legacy 20 countries" tracked since March 2010, it would read at 47.4.

The Current sub-index, reflecting consumers' perceptions of the economic climate and their currentpurchasing, jobs, and investment confidence, is relatively unchanged (+0.2 point) and sits at 40.0. Ninecountries show a significant month-over-month gain (at least 2 points) in their Current sub-index, and seven countries show a significant loss.

The Investment sub-index, indicative of consumers' perception of the investment climate, is up an insignificant 0.4 point and now sits at 42.4. In total, eight countries show a significant gain in their Investment sub-index this month while seven countries show a significant loss.

The Expectations sub-index, indicative of consumer expectations about future economic conditions, is up 0.7 point this month and sits at 57.7. Seven countries show significant gains in their Expectations sub-index, compared to just three that show a significant loss.

The Jobs sub-index, reflecting perceptions about jobs security and the jobs market, is nearly unchanged (+0.1 point) and is now at 57.5. Seven countries show significant gains in their Jobs sub-index, and five countries show significant losses.

Of note, Türkiye is the only country to show significant losses (of at least 2 points) across all four sub-indices. In contrast, Mexico and France both show significant month-over-month gains across all four sub-indices.