State of the US consumer: June 2025
The slight upticks in household finances and discretionary spending intentions seen in May are optimistic signals, but not enough to break longer-term downtrends
Article
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3-min read
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30 June 2025
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Deloitte Center for Consumer Industry | Deloitte Center for Global Economic Research
Key insights about US consumers from Deloitte’s ConsumerSignals
- Deloitte’s financial well-being index recovered slightly in May but remains down 6 points compared with December 2024 levels (figure 1).
- Expectations of rising prices show signs of easing but remain elevated compared with late 2024 (figure 2).
- Mirroring the bounce in financial sentiment, discretionary spending intentions saw the first uptick in nine months, but remain well below 2021 levels (figure 3).
- Spending intentions continue to shift as essential costs climb (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: Deloitte ConsumerSignals; Haver Analytics; United States Department of Transportation; Deloitte analysis.
Deloitte Insights | www2.deloitte.com/insights
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BY
Stephen Rogers
United States
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