The NAB Wellbeing Survey provides a key pulse check on the “vibe” of our nation. Wellbeing is back to equal survey lows due to higher anxiety and lower life satisfaction in some key areas.
New research shows many Australians believe as a society we’re becoming less patient, polite and kind. Financial stress is an increasingly influential driver of wellbeing. Financial pressures rose slightly in Q4 but remain below levels seen earlier in 2024. Concerns are still highest among people aged between 30-49 but rising sharply among younger people. Significant numbers of Australians remain wary about the year ahead which is likely influencing their perceptions of their wellbeing. With the past few years being so tumultuous, many are finding it hard to believe there’s really any reprieve on the horizon and are not listening to more upbeat forecasts by economists. With household pressures expected to ease as the year progresses there’s plenty of room for an uplift in sentiment once people ‘feel’ a greater sense of control over their lives and with that a more hopeful future.
Read the full report here: NAB Australian Wellbeing Survey (Q4 2024)
Consumer stress is rising again with Australians wary about the outlook for the year ahead. Household pressures are set to ease but until then the mantra for many consumers appears to be, “Show me the money”!
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Total spending went up 0.6% m/m. Overall, total consumer spending increased 1.9% in 3-month average terms and 6.5% over the past 12 months.
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