State of the US consumer: May 2025
Consumers reshuffle spending budgets as financial well-being takes another hit
Article
•
3-min read
•
30 May 2025
•
Deloitte Center for Consumer Industry | Deloitte Center for Global Economic Research
Key insights about US consumers from Deloitte’s ConsumerSignals
- Down six points, Deloitte’s financial well-being index saw its strongest monthly drop since 2023 a month ago in April (figure 1).
- Higher price expectations are holding their uptrend. Three in 4 respondents expect higher grocery prices next month (figure 2).
- Monthly spending intentions for nondiscretionary categories and savings remain on a gradual, long-term uptrend, while discretionary categories continue to weaken (figures 3).
- Rising year on year, spending intentions for leisure travel remain strong, despite respondents saying they’re spending more on housing and groceries (figure 4).
Notes: In figure 1, Deloitte’s financial well-being index is measured across six dimensions of financial health: (1) confidence in the ability to meet current financial obligations; (2) comfort with level of savings; (3) income relative to spending; (4) delays in making large purchases; (5) assessment of current personal financial situation compared to last year; and (6) expectations regarding personal financial situation for the year ahead. Higher index values represent stronger financial well-being. Spending intentions represent respondents’ estimated spending for the next four weeks. In figure 3, discretionary categories include leisure travel, restaurants, recreation and entertainment, electronics, clothing, personal care, household goods, education, child care, and home furnishing. Nondiscretionary categories include housing and utilities, transportation, groceries, and health care. Spending intention–related index values are represented by a three-month exponential moving average.
Sources: Deloitte ConsumerSignals; US Bureau of Labor Statistics.
Sources: Deloitte ConsumerSignals; US Bureau of Labor Statistics.
Deloitte Insights | www2.deloitte.com/insights
Sources: US Department of Commerce; US Bureau of Labor Statistics; The Wall Street Journal (all sourced through
Haver Analytics); Deloitte analysis.
Deloitte Insights | www2.deloitte.com/insights
Place holder for notes:
BY
Stephen Rogers
United States
Visit the Deloitte Consumer Industry Center
Access more insights for the automotive, consumer products, food, retail, wholesale and distribution, airlines and hospitality, and transportation sectors.
Visit the Deloitte Global Economics Research Center
Access more economic insights and analyses.