What you need to know
- Finder’s positivity index decreased by 6.1% in June 2024 to 95.5 points.
- The decrease in savings and positive economic outlook were the main contributors to the decrease in the index.
The decline in the index was mainly due to the savings category. People’s savings dropped by 12%, and monthly savings contributions fell by 11%.
The number of people who believe Australia will face a recession in the next 12 months went up by 13%.
Meanwhile, there was a 3% rise in those feeling confident about affording a home, along with a 12% increase in optimism about their monthly cost of living.
Positive sentiment around housing saw a slight increase, with 6% fewer individuals struggling to pay their home loan.
Finder's Positivity Index is a monthly measure of Australian consumer sentiment, and a useful way to gauge the financial health of Australian consumers at a glance. It provides a snapshot of how Australians feel about their current capacity to earn a decent income; to spend enough to maintain their standard of living; and to save for the future. The index also provides an insight into where the economy as a whole is going in the short term.
The index is collated from over 50,000 responses to Finder's Consumer Sentiment Tracker since May 2019. It is produced by analysing data collected across five broad categories:
Each category is measured with survey responses on how Australians feel about a recession; their wages; wellbeing; their ability to pay for housing; their living costs; use of buy now pay later; and how much they save per month. The final index is a synthesis of these consumer perspectives into a single index to express current and near-term consumer sentiment. This synthesis involves creating separate indexes for each data point with a baseline of 50, then calculating a weighted sum as a final index.
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