Description

There has been a significant deterioration in the mood of consumers over the past 18 months and again in early 2024.

Australian consumers have become more concerned about several aspects of the future. Australian consumers seem to have developed a heightened sense of foreboding. How has it come to this and what does this mean for business and government?

This document provides evidence of these changes and provides some guidance on the future impacts. We will monitor the situation closely and continuously and provide clients with early warnings of change.

The report includes measures of the level of expected future concern about a range of issues. The level of expected concern has risen lately for several issues.

Optimism about the future (personal, Australia, and the world) is at, or close to a record low.

These findings should be of great concern to governments and businesses, who need to show empathy and make a contribution to reducing the levels of concern about the future.

We then consider the likely future consequence – including on family formation and consumer spending.

This report is based on proprietary tracking data compiled over several years, and updated in February 2024. It will be updated quarterly.