Financial wellbeing in May 2025

 Summary

• Consumer sentiment improved in May, reversing a deterioration in confidence reported last month. Rises in confidence were seen across all demographic groups, but increased most for working age parents.
• However, the overall level of confidence in the future of the UK economy still remains low. 55% of consumers think the economy will worsen in the next twelve months and only 15% believe it will get better.
• Financial difficulty remains at similar levels to the previous month, with 6.6% of households missing a housing, bill, loan or credit card payment and 46% making adjustments to cover essential spending.

You can view more data and articles from our monthly tracker survey on our dedicated Consumer Insight Tracker page.

Consumer confidence increases

Consumers reported increased confidence across all three metrics in this month’s Consumer Insight tracker. The increases reversed the deterioration in confidence reported last month. 

Consumer confidence in the future UK economy increased by 12 points to -41. Despite this increase, consumers remain deeply pessimistic about the overall economy, with over half (55%) consumers thinking the economy will worsen in the next twelve months and only 15% believing it will get better. 

Consumers are more positive about their personal household finances. Confidence in their  current finances increased by six points to +27 and confidence in their future finances increased by 12 points to -7. 

Consumer confidence increases across all three metrics in the month to May 9th

Rises in confidence were particularly reported by working age parents

Confidence increased among all demographic groups across all three metrics that we measure, showing that consumers are feeling more confident across the board. 

However, the increases in confidence were most prominent amongst working-age parents. This month, more working age parents think their future household finances will improve in the next twelve months than worsen, with their confidence score reaching +9, an increase of 22 points. 

Working age parents’ confidence in their current household finances and the future UK economy also saw a large increase this month. This group’s confidence in the future UK economy increased by 17 points to a score of -19. Meanwhile, their confidence in their current household finances increased by 18 points to a score of +21. 

Consumer confidence increased all metrics, especially for working age parents

Financial difficulty remains at similar levels to last month 

The proportion of households missing a housing, bill, loan or credit card payment has remained consistent this month, at 6.6%. 

Similarly, the proportion of households making at least one adjustment to cover essential spending increased by just one percentage point to 47%.  Adjustments include cutting back on essentials, dipping into savings, selling possessions or borrowing. 

6.6% households missed at least one payment in the month to May 9th

Methodology

The fieldwork was conducted by Yonder on behalf of Which between the 9th and 11th of May. A sample of 2,091 UK adults were surveyed online and weighted to be nationally representative.