Impact of Mining Boom and Dollar

Mar 26, 2012

Q. Has the mining boom and the high dollar been good or bad for –

 

Total good

Total bad

Very good

Good

Neither good nor bad

Bad

Very bad

Don’t know

The economy generally

52%

12%

11%

41%

22%

10%

2%

15%

Jobs generally

42%

18%

8%

34%

26%

15%

3%

14%

You personally

23%

10%

5%

18%

55%

8%

2%

10%

A majority (52%) think that the mining boom and the high dollar has been good for the economy and are more likely to think it has been good for jobs (42% good/18% bad).

61% of Labor voters, 53% of Greens voters and 51% of Coalition voters think it has been good for the economy.

55% think it has been neither good nor bad for them personally. For those on incomes over $1,600pw, 32% think it has been good for them personally and 9% bad.

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2012 Outlook – Economy and Family

Dec 19, 2011

Q. Thinking about the next 12 months, do you think 2012 will be a good or bad year for each of the following?

Total good

Dec 10

Total bad

Dec10

Total good Total bad Very good Good Neither good nor bad Bad Very bad Don’t know/Not applicable
The Australian economy 48% 16% 29% 35% 3% 26% 32% 28% 7% 3%
Your personal financial situation 39% 20% 33% 27% 4% 29% 38% 20% 7% 2%
Your workplace * 47% 16% 45% 20% 6% 39% 36% 15% 5% 2%
You and your family overall 51% 14% 52% 16% 10% 42% 30% 12% 4% 2%

* based on working people

Overall, respondents were optimistic that 2012 would be a good year for themselves overall (52%) and their workplace (45%). They tended to be less optimistic about their financial situation (33% good/27% bad) and somewhat pessimistic about the Australian economy (29%/35%).

Compared to expectations 12 months ago, respondents were much less optimistic about the Australian economy (48% good last year compared to 29% good this year) and also rather less optimistic about their own financial situation (39%/20% last year compared to 33%/27% this year).

When compared with last week’s questions on perceptions of 2011, these figures suggest that respondents expect 2012 to be better than 2011 for themselves and their family (net +36% for next year compared to net +24% for this year), a little better for their workplace (+25% next year, +20% last year) and their own financial situation (+6% next year, -2% this year). The Australian economy is expected to be a little worse in 2012 (-6% next year compared to +2% last year).

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Performance of Australian Economy

Dec 19, 2011

Q. How do you think the Australian economy is performing in comparison to other developed countries?

Total Vote Labor Vote Lib/Nat Vote Greens
Total better 73% 84% 72% 80%
Total worse 7% 3% 8% 1%
A lot better 27% 44% 19% 32%
A little better 46% 40% 53% 48%
About the same 16% 13% 16% 12%
A little worse 5% 2% 5% 1%
A lot worse 2% 1% 3%
Don’t know 4% 1% 3% 6%

If ‘a lot better’ or ‘a little better’ –

Q. How much credit do the following deserve for the current performance of Australia’s economy?

A lot Some A little None Don’t know
The Federal Labor Government 18% 31% 23% 21% 6%
The previous Coalition Government 21% 31% 26% 15% 6%
The booming resources sector 47% 31% 12% 3% 7%
The Reserve Bank 6% 42% 29% 13% 9%

73% think that the Australian economy is performing better than other developed countries and only 7% think it is performing worse.

Respondents give most credit for the performance of the economy to the booming resources sector (78% a lot or some credit). They give similar credit to the Labor Government (49%) and the previous Coalition Government (52%).

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The Past Year – The Economy and Industries

Dec 12, 2011

Q. Thinking about the last 12 months, has it been a good or bad year for each of the following?

Total good

(Dec 10

Total bad

(Dec 10)

Total good Total bad Very good Good Neither good nor bad Bad Very bad Don’t know
The banks 69% 13% 71% 8% 35% 36% 16% 6% 2% 4%
The mining industry 57% 14% 68% 11% 34% 34% 15% 8% 3% 6%
Large companies and corporations 44% 15% 40% 22% 8% 32% 32% 18% 4% 6%
The Australian economy 41% 20% 33% 31% 4% 29% 32% 24% 7% 3%
The media 30% 14% 25% 27% 6% 19% 37% 19% 8% 10%
Farming and agriculture 14% 50% 23% 40% 2% 21% 30% 28% 12% 7%
The environment 14% 37% 20% 33% 3% 17% 41% 24% 9% 6%
Small business 14% 45% 10% 61% 1% 9% 24% 42% 19% 6%

A majority of respondents think it has been a good year for the banks (71%) and the mining industry (68%). They are also more likely to think it has been a good year for large companies and corporations (40% good/22% bad) and the economy (33%/31%). However, they are more likely to think the year has been bad for small business (61%), farming and agriculture (40%) and the environment (33%).

In terms of the economy, Labor voters (50% good/18% bad) and Greens voters (47%/15%) were more likely to think it has been a good year – while 45% of Liberal/National voters considered it poor and 23% good.

Compared to last years’ results, respondents considered 2011 a better year than 2010 for the mining industry (up 11% to 68% good), farming and agriculture (up 9% to 23%) and the environment (up 6% to 20%). Perceptions of the economy dropped from a net +21% to +2%.

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Economic Prosperity

Oct 17, 2011

Q. Which one of the following do you believe will be the most important factor in Australia’s economic prosperity over the next 20 years?

Total Vote Labor Vote Lib/Nat Vote Greens
A strong resources sector 29% 29% 35% 18%
Continued growth in China and India 21% 23% 22% 24%
Investment in skills 20% 22% 16% 23%
Prioritising innovation and technology 18% 18% 13% 31%
A strong banking and finance sector 12% 9% 13% 5%

29% believe that a strong resources sector will be the most important factor in Australia’s economic prosperity over the next 20 years and 21% nominate the continued growth in China and India. Labor and Coalition voters were more likely to niominate “a strong resources sector” while 31% of Greens voters nominated “prioritising innovation and technology”.

Those on higher incomes were more likely to nominate “a strong resources sector “  – 36% of those on income $1,600+ pw.

There were no major differences by age group.

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Preferred Action on another GFC

Aug 29, 2011

Q. If the world has another GFC (Global Financial Crisis) and the Australian economy worsens, which of the following actions would be more likely to protect jobs and help the economy?

Total Vote Labor Vote Lib/Nat Vote Greens
Increase Government spending on new infrastructure and services 48% 62% 42% 53%
Cut spending on infrastructure and services 22% 13% 31% 19%
Don’t know 30% 24% 28% 28%

Respondents were more likely to want the Government to increase spending if there was another GFC.  Support for increased spending was strongest among Labor voters (62%), men (55%) full-time workers (53%) and people earning over $1,600pw (55%).

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Concern About Share Market Movements

Aug 22, 2011

Q. How concerned are you about the impact of current movements in the share market on your financial situation?

Total Vote Labor Vote Lib/Nat Vote Greens Income les than $600pw Income $600-$1,000pw Income $1,000-$1,600pw Income over $1,600pw
Very concerned 16% 13% 21% 6% 12% 17% 16% 16%
Somewhat concerned 23% 22% 25% 12% 16% 28% 25% 23%
A little concerned 29% 30% 30% 28% 29% 26% 30% 28%
Not at all concerned 26% 28% 20% 47% 33% 24% 23% 28%
Don’t know 7% 7% 4% 7% 9% 5% 6% 6%

16% said they were very concerned and 23% somewhat concerned about the impact of current movements in the share market on your financial situation. 55% were only a little or not at all concerned.

Apart from those on very low incomes, there was not much difference across income groups – 28% of those earning under $600pw were very/somewhat concerned compared to 45% of those earning $600-1,000, 41% of those earning $1,000-1,600 and 39% of those on $1,600+.

Older respondents tended to be more concerned – 49% of those aged 55+ were very/somewhat concerned compared to 32% of 18-34’s and 38% of 35-54’s.

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The Australian Economy

Aug 15, 2011

Q. Thinking about the state of the world economy, how do you think the Australian economy has performed over the last few years compared to other countries?

Total Vote Labor Vote Lib/Nat Vote Greens
Total better 70% 77% 70% 85%
Total worse 10% 5% 14% 5%
A lot better 31% 41% 27% 48%
A little better 39% 36% 43% 37%
About the same 16% 17% 15% 8%
A little worse 7% 4% 9% 2%
A lot worse 3% 1% 5% 3%
Don’t know 3% 1% 1% 4%

70% think that Australia’s economy has performed better than other countries over the last few years, 16% say about the same and 10% think it has been worse.

There were no substantial differences across demographic groups although those on higher incomes are a little more likely to believe it has performed better – 76% of those on incomes over $1,600pw compared to 67% of those earning under $1,000pw.

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