Overall Consumer Confidence Gains 18 Points in December 2023

Key Points

• The consumer confidence index rose 18 points from December 22, 2023, to January 5, 2024.
• The LSEGIpsos Primary Consumer Sentiment Index for April 2024 is at 534.
• India had the highest consumer confidence among the 29 countries surveyed.

Consumer Confidence on the Rise

The consumer confidence index (CCI) is a leading indicator of consumer spending. It measures people's confidence in the economy and their ability to make purchases.

The CCI rose 18 points from December 22, 2023, to January 5, 2024. This suggests that consumers are feeling more confident about the economy and their financial situation.

Consumer Confidence Index: 13-Year Trend

The CCI has been trending upward since 2011. The index reached its highest point in June 2021, at 117.2. It then declined slightly in 2022 but has since rebounded.

Regional Averages

The CCI varies across regions. In July 2024, the CCI was highest in India (112), followed by China (108) and Brazil (105).

The CCI was lowest in the United Kingdom (-13), followed by Italy (-10) and Germany (-9).

Impact on Consumer Spending

The CCI is a key indicator of consumer spending. When consumer confidence is high, consumers are more likely to make purchases.

The recent increase in the CCI suggests that consumer spending is likely to continue to grow in the coming months.

Additional Information

• LSE Ipsos Primary Consumer Sentiment Index
• The Conference Board Consumer Confidence Index
• Pew Research Center: Consumer Confidence Is Near an 18-Year High, but Worries Persist