Which? has published its Consumer Insight Tracker data, showing confidence in the future of the UK economy has dropped 31 points over the past year. The index for May–July 2025 sits at minus 40, down from minus nine for May–July 2024. The share expecting the economy to worsen rose to 56%, while 16% thought it would improve. The figures are among the lowest seen since early 2023, when the cost-of-living crisis dominated headlines.

Pensioners are the most pessimistic group, with their outlook sliding from minus five in May–July 2024 to minus 63 now. The decline followed autumn last year after the government announced plans to scrap the winter fuel allowance for most pensioners, and it has persisted despite a later U-turn on fuel payments.

Data for the month to 18 July show about 2.1 million households missed at least one essential payment such as rent, mortgage, or utility bills. About 13.9 million households (49%) made at least one adjustment to cover essential spending, including cutting back on essentials, dipping into savings or borrowing. Which? director of policy and advocacy, Rocio Concha, said the findings underline the need for stronger consumer protections to restore confidence, noting concerns over online fraud, rogue traders and pricing practices. She added that protections should be central to plans to grow the economy.