October 18, 2024

NAB Consumer Sentiment Survey Q3 2024

Consumer stress eases falling to below survey average levels

Cost of living remains the biggest driver of stress but encouragingly fell as inflation showed signs of slowing. Fewer consumers report higher prices across most monitored spending categories and a growing number of Australians are confident prices will continue to moderate in the December quarter. Job stress also fell. Consumers continue to manage their stress through their behaviours, but with stress declining were able to be a little less austere. But fewer cutbacks meant fewer opportunities to make savings. New research also shows around 1 in 3 Australians drew down their existing savings more rapidly in Q3 to combat living costs, while almost 1 in 5 sold possessions.