Consumer anxiety rises as fears over job security continue to grow.

The NAB Consumer Anxiety Index rose to 61.7 points in Q1 2014 (61.5 in Q4 2013). This was largely driven by heightened concerns over job security (mainly NSW/ACT). Although job security still rates as the lowest concern overall, job anxiety has risen more than 5 points since mid-2013. Consumers were also slightly more anxious about their ability to fund retirement. The level of anxiety related to government policy and health fell slightly and was broadly unchanged for cost of living. Among the key findings: consumers in NSW/ACT are the most anxious; anxiety is highest for women aged 30-39 and for divorced people and lowest for widows, men aged 18-29 and retirees. Our Special Report (“Factors Impacting Cost of Living”) also released today reveals that the most important influences impacting cost of living include utility bills, housing and transport costs, while costs related to entertainment, travel/holidays, keeping up with the Jones’ and durable goods were not considered to have a negative impact on the cost of living.

For further analysis download the full report.

• NAB Quarterly Australian Consumer Anxiety Index – Q1 2014 (PDF, 190KB)
• NAB Quarterly Australian Consumer Anxiety Index – Q1 2014 Special Report: Factors Impacting Cost of Living (PDF, 53KB)