Global Consumer Confidence Dashboard

Key Takeaways

• Downward Momentum Stalls

  Global consumer confidence displayed a striking reversal in May, with 33 countries showing improved sentiment compared to just 10 with declines—a complete flip from the previous month when 32 countries' consumer sentiment declined and only 11 countries' consumer sentiment improved.

• This dramatic shift represents the first positive global turnaround of 2025. Since February, consumer sentiment had been deteriorating across more countries than improving. May's figures mark a significant break in the downward trend that had persisted for several months.

• The sudden nature of this improvement suggests consumers may be experiencing economic whiplash, making sentiment highly volatile and potentially prone to sharp reversals in coming months.

• Economic Policy Uncertainty Drives Volatility
  The rapid sentiment shift appears to reflect consumers' heightened sensitivity to economic policy changes, particularly the ongoing uncertainty surrounding tariff policies and international trade disputes that have created an unpredictable business environment.

• Recent OECD forecasts reinforce concerns about the global economy, showing global growth slowing to 2.9% in 2025 and 2026 (down from 3.3% in 2024)  due to trade war impacts.

• Given the volatile policy environment where trade policies change frequently, it would be premature to draw definitive conclusions from this single month of consumer sentiment improvement. The sudden improvement in global sentiment, while welcome, should be interpreted cautiously given the rapid pace of change and underlying economic uncertainties

• Americas: Generally Positive with Notable Exceptions
  The Americas region showed overall improving consumer sentiment trends, though performance varied significantly across countries. The United States and Canada both experienced meaningful improvements in consumer sentiment while Mexico and Colombia remain notable outliers in the region, continuing their downward trajectory in consumer sentiment.

• Europe: Strongest Regional Performance Despite Underlying Concerns
  Europe demonstrated the strongest regional performance, with an impressive 15 of 16 tracked countries showing month-over-month improvements in consumer sentiment. Poland was the sole European economy to register a decline, though the decrease was minimal and does not indicate a broader trend. Ireland continues to drive the most substantial gains in the region, maintaining its position as a European leader in consumer sentiment improvement. However, when examining year-over-year comparisons, most European economies still show sentiment levels trailing behind 2024 levels, suggesting that while the monthly improvement is encouraging, the region has not yet fully recovered to previous confidence levels.

• Middle East & North Africa: Balanced Overall
  The Middle East and North Africa region presented mixed results with a relatively balanced picture—4 economies showed improving sentiment conditions while 3 experienced declines relative to the previous month.

• Asia-Pacific: Positive Momentum with Notable Exceptions
  The Asia-Pacific region showed generally positive momentum, with 8 of 12 tracked economies registering higher consumer sentiment compared to the previous month. China and India, two of the region's largest economies, maintained their upward trends in consumer sentiment. Singapore experienced the largest decline in the region with a significant 5.0% drop in sentiment, followed by South Korea.