We hope that by providing an alternative measure of consumer sentiment, NAB has contributed to the understanding of how Australian consumers feel and behave.

Stress levels fell for all index components in the June quarter. Though cost of living pressure still weighed most heavily on Australian consumers, it eased to its lowest level since March 2022 as headline inflation held steady within the RBA’s target range. And with the labour market remaining resilient, concerns over job security also eased to below average levels for the first time in nearly 2 years.

Over 1 in 3 Australians are ‘very’ concerned about the impact of US tariffs on the Australian economy, however this falls to around 1 in 4 when asked about the potential impact on their household’s financial position. When asked how they see the year ahead, a growing number of consumers on balance expect interest rates to decrease in the next 12 months.