Consumers are at their most anxious in more than a year, according to a new survey.
quarterly Australian consumer anxiety index climbed to 64.5 points in the June quarter, up from 61.7 points in the March quarter. The result was the highest since the survey began in the first quarter of 2013.
The federal budget was the main driver of growing anxiety, NAB
said. Around 38% of consumer rated their anxiety over government policy "high".
Cost of living remains the single biggest concern for Australian consumers. Consumer anxiety relating to the ability to fund retirement, health and job security also rose.
Consumer anxiety was highest in Victoria, but saw the biggest rise in WA as the state transitions away from the resources boom. Anxiety was up most in regional cities, highest in rural towns and lowest in capital cities.