The global consumer confidence recovery gained steam in the week of May 25, 2026, marking six straight weeks of growth since hitting a low point in mid-April. While shoppers in countries like China and South Korea are spending with record-breaking optimism, American consumers are moving in the opposite direction, growing increasingly pessimistic.
According to data tracking the Index of Consumer Sentiment (ICS), the global four-week moving average rose 0.8 points to 95.6. The metric has climbed steadily since its April 19 trough of 92.8. Over the last month, South Korea surged 14.8% and Brazil climbed 5.5%, leading the world’s gainers. Meanwhile, the United States dropped 2.8%, with India and Indonesia both slipping 2.6%.
The data highlights a massive split in South America driven by energy exposure following the outbreak of the Iran War. Before the conflict, the region’s five largest economies moved in near-lockstep. Now, net energy exporters are thriving while energy importers suffer from supply chain chaos.
Brazil’s four-week average jumped 2.1 points to 120.8, marking its sharpest weekly gain since the war began. Colombian confidence held flat near an all-time high at 124.1. Both nations are insulated by domestic energy production and high crude prices, with Brazil further aided by local manufacturing and recent central bank interest rate cuts. Conversely, net energy importers are feeling the squeeze. Chile dropped 1.7 points to 80.9, leaving it 22.6 points below its pre-war baseline. Argentina showed a one-week bounce of 6.6 points, but its overall four-week trend remains negative at 82.8.
In North America, the US four-week average dropped 1.2 points to 86.7, showing a clear disconnect as the rest of the world rebounds. Canada managed a minor 0.4-point uptick to 75.8.
Across Europe, the Middle East, and Africa, recoveries remain slow and uneven. Germany broke a multi-week losing streak by adding 1.2 points to reach 62.2, though it sits 17.8% below its January levels. Spain rose 0.9 points to 81.1, and Italy ticked up 0.8 points to 67.6. France held completely flat at 59.0.
In the Middle East, high oil prices were not enough to counter local conflict. Saudi Arabia dipped to 151.6 and the United Arab Emirates softened to 145.3. The declines confirm that regional military conflict and global economic uncertainty are currently outweighing the financial benefits of rising energy export costs.
The Asia-Pacific region showcased the strongest numbers in the report. China’s four-week average hit a new dataset high of 166.6, up 0.9 points on the week. South Korea completed a full V-shaped recovery, jumping 2.5 points to 97.5. The country is now 8.9% above its January baseline and has officially surpassed its pre-war confidence levels. Japan rose 0.9 points to 63.6 and Australia grew 1.4 points to 74.6, breaking recent downward streaks for both nations. Southeast Asia slipped across the board, with Malaysia, Thailand, and Indonesia all dropping between 0.3 and 0.7 points to remain well below their pre-war baselines.
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