A slow but steady healing process is taking hold of the global economy, as new data shows consumer confidence rising for the fourth straight week. According to the latest Morning Consult Global Outlook released April 29, 2026, the global Index of Consumer Sentiment (ICS) 4-week moving average has climbed to 94.7.
This marks a notable bounce-back from the mid-April low of 92.8, signaling the first sustained recovery since the onset of the Iran War in late February.
However, the “Global Outlook” briefing, recently refined by Chief Economist John Leer to focus on regional specifics, paints a picture of a world moving at two very different speeds. While the global average is up, 12 out of 43 tracked markets are still struggling, sitting more than 10% below where they started the year.
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China is currently the world’s primary engine of optimism.
Its sentiment index hit a staggering all-time high of 169.5 this week. Analysts attribute this surge to China’s ability to bypass the chaos in the Strait of Hormuz by relying on Russian pipeline oil.
This energy security has kept Chinese markets insulated from the price shocks hitting its neighbors. Experts expect this strength to trickle down to Australia in the next one to two months.
On the flip side, Turkey has plunged to a multi-year low of 51.8. The country is grappling with severe economic headwinds that have wiped out consumer confidence, making it one of the weakest performers in the global dataset.
In the United States, the mood remains resilient despite the global backdrop.
The U.S. moving average held flat at 89.6, with three out of four Americans reporting that they haven’t changed their spending habits despite higher gas prices.
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Today, gas only accounts for 3.3% of household budgets, a significant drop from over 5% in 2022. Additionally, a February Supreme Court ruling on tariffs has provided a much-needed cushion against rising costs.
Elsewhere in the region, Colombia and Brazil are showing strong numbers, while Canada and Mexico are feeling the squeeze of trade uncertainty.
The EMEA region is currently a patchwork of recovery and recession-like anxiety. Countries like Ireland, the Netherlands, and Switzerland saw sharp rebounds this week.
However, the heavy hitters of the Eurozone are in trouble. France and Germany remain stuck near multi-year lows, with sentiment scores hovering around 58 and 61, respectively.
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