Cost-of-living pressures have emerged as the leading concern for households as Australians become increasingly pessimistic about the path the country is taking, a major survey has revealed. Source: The Australian.
Identifying a distinct negative shift in the national mood, the survey shows a strong majority of Australians, 61 per cent, believe the country is heading in the wrong direction, up from 51 per cent in April, as a result of soaring cost-of-living pressures.
The latest SEC Newgate Mood of the Nation report highlighted a rise in despair about the economy, with 55 per cent of Australians believing it will deteriorate over the next year and 61 per cent over the next three months.
It also found 46 per cent of Australians are experiencing financial difficulties, up from 39 per cent in April, with women, middle-aged people, renters, casual workers and students the worst affected.
SEC Newgate Research partner David Stolper said the results, which included responses from a representative sample of 2207 people, reflected the tough economic conditions many Australians were grappling with.
The nation’s mood is also souring, with 59 per cent of Australians selecting negative emotions to characterise their state of mind such as “stressed”, “anxious” and “exhausted”.
An overwhelming 90 per cent of Australians surveyed said their biggest cost-of-living concern was groceries, followed by electricity.
Cost of living key concern amid ‘distinct negative shift in the national mood’, report finds (By Rhiannon Down and Noah Yim, The Australian)