Christmas shopping: Consumer anxiety falls in time for retail season
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Consumers in Australia are less anxious than at any time in the past 18 months amid signs of a robust finale to the Christmas shopping season.
The National Australia Bank’s consumer anxiety index, released on Tuesday, has fallen for a second straight quarter to its lowest mark since mid-2013. It also revealed households have increased spending on non-essentials.
New spending data pointed to solid retail spending growth in December, despite the hit to consumer confidence caused by last week’s siege in Martin Place. Commonwealth Bank figures, released on Tuesday, show the volume of debit and credit card transactions made in stores across Australia in the first three weeks of December was 10.7 percent higher than the same period last year. The total value of transactions was five per cent higher in that period.
Questions & Answers
Q.What is the current trend in consumer anxiety according to the National Australia Bank's index?
What is the current trend in consumer anxiety according to the National Australia Bank's index?
The National Australia Bank's consumer anxiety index has fallen for a second consecutive quarter. It is now at its lowest point since mid-2013, indicating less anxiety among consumers.
Q.How did the siege in Martin Place affect consumer confidence?
How did the siege in Martin Place affect consumer confidence?
The siege in Martin Place caused a hit to consumer confidence. Despite this, new spending data still pointed to solid retail spending growth during December.
Q.What do the latest Commonwealth Bank figures show about December retail spending?
What do the latest Commonwealth Bank figures show about December retail spending?
Commonwealth Bank figures show the volume of debit and credit card transactions in Australian stores was 10.7 percent higher in the first three weeks of December compared to last year. The total value of transactions increased by five percent.
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