Consumers are less anxious about the future as a result of the government’s pandemic response, an easing of restrictions and lower cost of living, NAB’S quarterly Anxiety Index has found. Overall consumer anxiety fell from 60.1 points in the first quarter to 57.3 in the second.
Queensland’s anxiety score fell 4.0 points to 55.8, making it the fourth most anxious state behind Victoria (58.4), New South Wales (58.2) and Western Australia (56.5). NAB’s index found that despite cost of living pressures easing, it was still the major driver of overall anxiety. Main concerns included an ability to fund retirement and government policy. However, groceries, utilities and home improvements were the three largest factors that added to cost of living in the past three months, while transport, entertainment and travel eased the most. NAB’s survey also found an increase in the number of people cutting back their spending when compared to the previous quarter.