Which? said the figures showed a \u201csignificant fall\u201d to some of the lowest levels seen since early 2023, when the cost-of-living crisis was in the headlines and inflation was in double figures.<\/p>\n
Confidence in the future economy declined sharply last autumn and was particularly low between February to May, when global events such as the US<\/a> tariff policy contributed to the pessimism.<\/p>\n Confidence had recovered a little since, but remained considerably lower than 12 months ago.<\/p>\n Confidence has tumbled by 31 points over the last year, from an average of minus nine between May and July 2024 to an average of minus 40 between May and July this year, Which?\u2019s Consumer Insight Tracker shows.<\/p>\n On average between this May and July, 56 per cent of people thought the economy would get worse and just 16 per cent thought it would get better.<\/p>\n Pensioners have been the most pessimistic group, with their confidence in the future UK economy falling dramatically from an average of minus five between May and July last year to a current average of minus 63.<\/p>\n Pensioners\u2019 confidence dropped dramatically in autumn last year \u2013 shortly after the government\u2019s first announcement of scrapping the winter fuel allowance for most pensioners \u2013 and has remained low since, in spite of the Government U-turn on fuel payments.<\/p>\n Which?\u2019s figures suggest that financial difficulties from the height of the cost-of-living crisis are yet to return to the previous levels.<\/p>\n In the month to July 18, an estimated 2.1 million households missed at least one essential payment such as rent or mortgage payments, utility bills<\/a>, credit card or loan payments.<\/p>\n An estimated 13.9 million households (49 per cent) also made at least one adjustment to cover essential spending such as utility bills, housing costs, groceries, school supplies and medicines in the last month \u2013 such as cutting back on essentials, dipping into savings, selling possessions or borrowing.<\/p>\n Get a free fractional share worth up to \u00a3100. Terms and conditions apply.<\/p>\n Go to website<\/a><\/p>\n ADVERTISEMENT<\/p>\n Get a free fractional share worth up to \u00a3100. Terms and conditions apply.<\/p>\n![\"Financial](\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2025\/08\/GettyImages-1248914788.jpg\")
Financial difficulties from the height of the cost-of-living crisis are yet to return to the previous levels (AFP via Getty Images)<\/p>\n![\"Trading](\"https:\/\/static.independent.co.uk\/static-assets\/images\/mobile-stores\/Trading_212.svg\")
<\/p>\n
Capital at risk.<\/p>\n<\/p>\n
Capital at risk.<\/p>\n