Decreased consumer confidence ‘worried’ last year

Saturday 16 August 2025 9:31

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Consumer confidence in the British economy in the future has plummeted over the past year, the number suggests.

Confidence has fallen 31 points over the past year, from the average minus nine between May and July 2024 to average minus 40 between May and July this year, which one?

The average between May and July, 56 percent of people think economy will be worse and only 16 percent think it will be better.

Which? The word numbers show “significant decreased” to some of the lowest levels seen since the beginning of 2023, when the crisis of living costs becomes headlines and inflation in multiple numbers.

Confidence in the future economy has declined sharply last autumn and very low between February to May, when global events such as US tariff policies contribute to pessimism.

Confidence has recovered a little since then, but remained much lower than 12 months ago.

Retired has become the most pessimistic group, with their trust in the British economy in the future down dramatically from the average minus five between May and July last year to the current minus 63.

Pensioned confidence descended dramatically in the fall of the year and last long after the first announcement of the government about removing winter fuel allowances for most retirees-and remains low since then, regardless of the government on fuel payments.

Which number shows that financial difficulties from the peak of the crisis of living costs have not returned to the pre-critic level.

On July 18, it is estimated that 2.1 million households miss at least one important payment such as lease or mortgage payments, utility bills, credit cards or loan payments.

It is estimated that 13.9 million households (49 percent) also make at least one adjustment to cover important expenses such as utility bills, housing costs, food ingredients, school supplies and medicines in the past month -such as reducing important goods, dipping into savings, selling goods or borrowing.

Rocio Concha, which one? The Director of Policy and Advocacy, said: “Our research shows consumer confidence in the future of the British economy has been worrying for the past year.

“The government properly focuses on economic growth and increases living standards but by doing that, it must not ignore the importance of consumer protection in restoring trust.

“People are fed up because they have to avoid fraudsters when shopping online, watching naughty traders when making home repairs and need to oversee the practice of clever price determination which means that the offer is not as good as the first time appears.

“The proper consumer protection gives people confidence to spend and the government must place this protection in the heart plan to grow the economy.”

By Josie Clarke, Correspondent of PA Consumer Affairs