"The NAB Consumer Stress Index increased in Q4 2022 but remains comfortably below the survey average. Stress associated with the rising cost of living continues to climb (now at a 4½ year high), with groceries, utilities and transport top of mind. With unemployment still low and beginning to translate into wage growth, stress arising from job security is still causing the least stress. That said, job stress is no longer falling, climbing noticeably in Q4. Consumer stress is highest among those aged 30-49 and in the $35-50,000 income group.
Consumers are still buying but are more considered in their spending. Around 4 in 10 consumers have cut back or stopped buying coffees or lunches, car trips to save petrol and entertainment. Consumers remain less prepared to cut back on private school fees or tutors, children’s activities, on pets, home services (e.g. house cleaning), insurances and gym, sports or club memberships." (source : NAB group economics on 6/2/23).
VVA Price at posting:
$1.20 Sentiment: None Disclosure: Not Held
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