Global Consumer Confidence Dashboard

Key Takeaways

• Global consumer confidence turned sour in March 2025. 31 out of the 43 tracked economies registered month over month declines in their Index of Consumer Sentiment (ICS).  July 2022 was the last time monthly ICS declines were widespread to this extent (above 30 countries). The same month, the median inflation rate was 9.4%, the highest since 2008. High inflation could have been one of the contributing reasons behind consumer sentiment declines then. Tariffs, trade wars, global economic uncertainty and growth worries may be some of the reasons today.

• In monthly terms, the Americas had more drops than increases in consumer sentiment last month. The United States and Argentina led the way with a month over month decline of 2.9% each; followed by Mexico and Canada, which saw their index of consumer sentiment drop 2.2%. Chile and Colombia were the only countries that had a marginal increase, which was less than 1%.

• Among the 16 countries tracked in Europe, only five of them had higher consumer sentiment relative to February. Romania had the latest increase with 2.8%, followed by Germany at 2.1%.  Ireland recorded the biggest decline at 8.7%.

• In the Middle East and North Africa region, Turkey  was the exception to the rule, with its sentiment index rising 3.4%. in March. The increase took place before the arrest of Istanbul's mayor and the opposition party's presidential candidate Ekrem Imamoglu; since then the consumer sentiment index fell slightly.

• In Asia, 8 out of 12 economies had lower consumer sentiment in March. After registering the biggest month over month drop last month, Chinese consumer sentiment bounced back. This increase comes after four months of consecutive declines, meaning sentiment has more to recover to reach its 2024Q4 highs.