The overall index score was -17, following two months at -23, and is two points better than in July 2025.

Confidence in the general economic situation over the past year rose 10 points to -39, and there was an eight-point increase in the measures for the economy over the year ahead, reaching -28.

The major purchase index also saw an eight-point boost to a score of -12, while the savings index, which measures whether now is a good time to save money, was up seven points to a positive score of 27.

The measures for personal finances over the past year and the next 12 months were both up two and three points respectively.

The findings are based on a nationally representative survey of 2,012 UK adults with interviewing carried out between 1^st and 14^th July.

Neil Bellamy, consumer insights director at GfK, said: “The sense of a fresh start following the appointment of a new prime minister surely accounts for some of this bounce. There were also hopes at the start of July that the Middle East conflict might stabilise and bring UK fuel prices down. The feel-good factor of the FIFA World Cup will have reinforced sentiment too.

“However, July’s improved Overall Index Score remains within the narrow range seen since the end of 2023, and it is a decade since the headline score was in positive territory. For the ‘Burnham bounce’ to be sustainable and boost consumer confidence, it will require consistent delivery by the refreshed UK government against deep cost-of-living challenges and persistent low economic growth.”