The consumer confidence index score decreased by 0.8 to 107.8 in July, with views on finances and job security declining in comparison with the previous month.

People’s perceptions of their household finances worsened in July, according to the index, with retrospective scores falling from 88.2 to 88.0, and outlook falling from 93.0 to 90.6.

Job security scores for July fell from 94.0 to 91.7 (-2.3 ), while outlook decreased from 117.2 to 116.4 (-0.8 ). For both measures, it’s the second consecutive month of declining scores.

An index score greater than 100 indicates positive sentiment, while less than 100 indicates negative sentiment, according to YouGov and Cebr.

Sam Miley, head of forecasting and thought leadership at Cebr, said: “July was another volatile month for the YouGov/Cebr Consumer Confidence Index, with all but one of the constituent metrics worsening.

“The decline in the job security category was particularly strong, suggesting that employees are perceiving redundancies to be more likely. This aligns with the ongoing loosening of the labour market, characterised by rising unemployment, slowing earnings growth, and falling labour demand, and is likely feeding through to the weak expectations regarding households’ financial situation.”

The index is based on consumer confidence data collected daily by YouGov, which conducts around 6,000 interviews a month. Respondents answer questions about household finances, property prices, job security and business activity, capturing their views on the past 30 days and on their forecast for the coming 12 months.