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business14h ago
Dinner for few: Australians eating out less as fuel crisis deals biggest blow to consumer confidence since Covid
- Australians are dining out less and choosing cheaper options as fuel prices rise and Middle East tensions affect oil markets.
- Analysts say the drop in confidence signals a return to prolonged financial pressure after pandemic-era inflation and rising rates.
- Bank surveys show a sharp fall in consumer sentiment with calls for cautious budgeting across discretionary spending.
- Discretionary spending, including dining out and deliveries, has deteriorated according to NAB and other surveys.
- Experts describe a ‘cautious consumption’ pattern as households brace for ongoing financial pressure.
- Consumer action groups report rising use of buy-now-pay-later and gift cards to cover petrol and groceries.
- National surveys show a broad deterioration in discretionary and lifestyle spending due to inflation and energy costs.
- Petrol price spikes and Iran war fallout are linked to shifts in commuting and energy use.
- Analysts warn of a potential global recession risk tied to an energy crisis.
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