UK Consumer Confidence Improves in May

2025-05-22 23:24 By Jam Kaimo Samonte 1 min. read

The GfK Consumer Confidence Index for the United Kingdom rose by 3 points to -20 in May 2025, surpassing market expectations of -22 and largely reversing April’s decline, which was driven by tariff concerns.

Despite the uptick, the index remains well below its long-term average, reflecting continued caution among consumers.

The improvement was led by more optimistic views on both the economy and personal finances, indicating a potential increase in consumer spending.

The 12-month economic outlook rose 4 points to -33, while expectations for personal finances climbed 5 points to 2 — a rare return to positive territory.

Neil Bellamy, Consumer Insights Director at GfK, noted that the Bank of England’s quarter-point interest rate cut in May may have provided some reassurance.

However, he cautioned that lingering risks from US tariffs and the possibility of renewed inflation remain significant concerns.



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