New analysis from YouGov and the Centre for Economics and Business Research (Cebr) reveals that household finance measures saw a slight recovery in May 2022 – but falling home value metrics have dragged the overall consumer confidence index down for the sixth month in a row.
Following months of decline, members of the public were more positive about their finances in May 2022. Retrospective measures (which cover the past 30 days) saw an increase of 2.1 points, rising to 58.8, while outlook (covering the next 12 months) jumped by 3.9 points to 52.2.
Any improvements to these metrics have to be viewed in the context of the year’s record-breaking lows. The cost-of-living crisis has wreaked havoc on Britons’ optimism around their household finances, and scores for both measures remain resoundingly negative. With the energy cap set to rise again in October, this month’s results could represent a moment of calm in an ongoing storm.