Below trend growth to continue
Household financial stress eases after rising for the past 6 quarters as Australians grow more accustomed to a number of ongoing pressures, but financial concerns are still climbing among lower income earners.
The NAB Household Financial Stress Index (which looks specifically at the role finances play in our wellbeing), fell in Q3. Though Australians are clearly being stretched financially, many have made deliberate spending trade-offs to manage household balance sheets and support their lifestyle in the face of inflation and higher rates. But, with the economy becoming more challenging, whether indicators of household financial pressure continue to moderate remains to be seen.
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