Sentiment rose from April to May in terms of personal finances, household finances and employment, while the proportion of consumers with disposable income stood at 78%, the same percentage recorded in April.
Despite the short-term confidence Lloyds said people have grown less confident in their financial situation in the years ahead over the last three months.
Claire Garrod, head of personal current accounts at Lloyds Bank, said: “Short-term spending power confidence has surged in May with less uncertainty after the election, low levels of inflation and strengthening wage growth.
“These factors are contributing to people feeling like their money is going further this month than last.
“However, confidence towards finances in the longer term has recently fallen, suggesting that people retain a cautious view of the future.”
Patrick Foley, chief economist at Lloyds Bank, said: “While households continue to have an upbeat view of their current financial situation, confidence in the outlook continues to drift down.
“But with wage growth now strengthening, households are likely to develop a more positive view of the future, and this should allow the UK’s recovery to make further headway in the second half of the year.”
