The index ascertained that the measure for the general economic situation of the country during the last 12 months was also down one point to -44, and 12 points worse than in July 2024.

Expectations for the general economic situation over the next 12 months have decreased one point to -29; this is 18 points worse than the same month last year.

The Savings Index has jumped seven points to a positive score of 34 in July, which is seven points higher than July 2024. GfK suggested that this could be a consequence of consumers’ uncertainty over future tax increases and economic performance.

However, the index measuring changes in personal finances during the last year was unchanged at -7 and this is one point better off than July 2024, while the forecast for personal finances over the next 12 months is also unchanged at two, and one point worse than this time last year.

The Major Purchase Index is up one point at -15, and is one point higher than this month last year.

The findings are based on a survey of 2,004 adults with interviews carried out between 1^st July and 15^th July 2025.

Neil Bellamy, consumer insights director at GfK, an NIQ Company, said: “The key measures on personal finances, the economy and purchase intentions are flat in July, and many will conclude that consumers are in a cautious wait-and-see mood. But the data suggests that some people may be sensing stormy conditions ahead. 

“With speculation growing over possible tax rises in the Autumn Budget, and price pressure contributing not just to higher inflation already but also to the likelihood of worse inflation to come, the news is worrying.

“Looking at the overall index score of -19 for July, it’s difficult to see what will lift it meaningfully higher in the months to come. It has drifted quietly downwards over the past year, and any fresh challenges or shocks could easily push confidence sharply lower.”