Globally, consumer confidence continues to be subdued given that consumer prices have been persistently elevated and uncertainty is still high, note Senior Partner Sven Smit and coauthors. In March, US consumer confidence dropped once again because of stock market volatility and ongoing inflationary pressures. In April, the US consumer confidence index fell to 92.9, hitting its lowest point since 2022. In Brazil, consumer confidence remained below the neutral threshold of 100, falling to 84.6 in March.
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A line chart shows OECD global consumer confidence from 2007 to March 2025. The y-axis represents an index where 100 equals the long-term average, ranging from 96 to 102. From 2007 to 2008, confidence starts rising above 100, then falls sharply, remaining below 100 until 2015. From 2016 to 2019, consumer confidence rises and remains above 100. After 2020, it drops below 100 again. In March 2025, consumer confidence is at 98.4.
Note: This image description was completed with the assistance of Writer, a gen AI tool.
Source: National statistical offices; McKinsey’s Global Economics Intelligence analysis.
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To read the article, see “Global Economics Intelligence executive summary, April 2025,” May 29, 2025.