Scottish Consumer Sentiment Indicator: 2025 Quarter 4
An official statistics publication.
The latest results for consumer sentiment in Scotland based on a quarterly survey of households’ current sentiment and future expectations of economic performance, household finances and attitudes to spending.
Part of
Results Breakdown
Composite Indicator
In Q4 2025, the Scottish Consumer Sentiment Indicator fell by 0.5 points to -8.8 indicating a weakening in sentiment over the quarter. The indicator is also lower than its average since Q2 2013 (-2.3).
Three of the five sub-indicators of sentiment decreased over the quarter, covering current and expected household financial situation as well as current attitudes to spending. The two other sub-indicators, covering current and expected economic performance, increased over the quarter.
The main driver of the weakening in sentiment over the quarter came from a decrease in expected household financial situation, which fell 1.4 points to its lowest level since Q1 2023.
Figure 2: The weakening in the Consumer Sentiment Indicator in the fourth quarter of 2025 came from falls in sentiment on current and expected household finances and attitudes to spending.
|
Results (Net Balances) |
Latest Quarter (Q4 2025) |
Previous Quarter (Q3 2025) |
Change between Q3 2025 and Q4 2025 |
|
Consumer Sentiment composite indicator |
-8.8 |
-8.3 |
-0.5 |
|
Current indicators |
|||
|
(a) Economy performance |
-5.6 |
-5.9 |
0.4 |
|
(c) Households’ finances |
-9.1 |
-8.6 |
-0.5 |
|
(e) Attitude to spending |
-20.9 |
-19.6 |
-1.3 |
|
Expectation indicators |
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|
(b) Economy performance - next 12 months |
-3.2 |
-3.6 |
0.4 |
|
(d) Households’ finances - next 12 months |
-5.1 |
-3.8 |
-1.4 |
|
Note: The consumer sentiment indicator score is the average of the net balances for each question topic. The net balance is the difference between the percentage of respondents reporting an improvement and those reporting a weakening. Scores are subject to rounding therefore differences in scores over the quarter may not sum. |
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Economic Performance
The Economic Performance indicators reflect how respondents consider Scotland’s economy is currently performing relative to 12 months earlier and how they expect it will be performing in 12 months’ time relative to current performance.
Figure 3: The current and expected economic performance indicators increased over the quarter.
Consumer Sentiment, economic performance indicators, quarterly net balance, Q2 2013 to Q4 2025.
The net balance of Scotland’s current economic performance indicator in Q4 2025 was ‑5.6, implying that households, on balance, consider current economic performance to be weaker than 12 months ago. Current economic performance sentiment strengthened over the quarter by 0.4 points however weakened over the year by 4.4 points compared to Q4 2024.
The net balance of Scotland’s expected economic performance indicator was -3.2, implying that households, on balance, expect economic performance to weaken over the next 12 months. Expected economic performance sentiment strengthened by 0.4 points over the quarter, however weakened over the year by 10.1 points compared to Q4 2024.
Household Finances
The Household Finances indicators reflect how secure respondents consider their current household financial position to be relative to 12 months earlier and how secure they expect it to be in 12 months’ time relative to its current position.
Figure 4: The current and expected households’ finances indicators fell over the quarter.
Consumer Sentiment, household finances indicators, quarterly net balance, Q2 2013 to Q4 2025.
The net balance of the current household financial security indicator was -9.1 in Q4 2025, implying that households, on balance, consider their current financial conditions to be less secure than 12 months ago. Sentiment on current household financial security weakened by 0.5 points over the quarter and weakened by 0.5 points over the year compared to Q4 2024.
The net balance of the expected household financial security indicator was ‑5.1 in Q4 2025, implying that households, on balance, expect their future household finances will become less secure over the next 12 months. Sentiment on expected household financial security weakened by 1.4 points over the quarter and weakened by 1.3 points over the year compared to Q4 2024.
Household Spending
The Household Spending indicator reflects how relaxed respondents currently feel about spending money relative to 12 months earlier.
Figure 5: The attitudes to spending indicator fell over the quarter.
Consumer Sentiment, attitudes to spending, quarterly net balance, Q2 2013 to Q4 2025.
The net balance of the current attitudes to spending indicator was ‑20.9 in Q4 2025, implying that households, on balance, feel less relaxed about spending money than 12 months ago. Attitudes to spending sentiment weakened by 1.3 points over the quarter and weakened by 3.2 points over the year compared to Q4 2024.
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