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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Government Handling of the Economy

Aug 15, 2011

Q. How do you think the Australia Government has handled our economy over the last few years?

Total Vote Labor Vote Lib/Nat Vote Greens
Total well 54% 82% 34% 81%
Total poorly 39% 13% 62% 12%
Very well 9% 22% 2% 16%
Quite well 45% 60% 32% 65%
Quite poorly 26% 11% 39% 8%
Very poorly 13% 2% 23% 4%
Don’t know 7% 6% 4% 7%

54% think the Australian Government has handled the economy very well or quite well over the last few years and 39% very poorly or quite poorly. 82% of Labor voters, 81% of Greens voters and 34% of Liberal/National voters think the Government has handled the economy well. 62% of Liberal/National voters think the Government has handled the economy poorly.

60% of those aged under 35 think the Government has handled the economy well, compared to 51% of those aged 35-54 and 51% of those aged 55+

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Trust to deal with GFC

Aug 15, 2011

Q. If there is another Global Financial Crisis, which party would you trust most to deal with it?

Total Vote Labor Vote Lib/Nat Vote Greens
The Labor Party 31% 75% 4% 61%
The Liberal Party 40% 4% 82% 5%
No difference 20% 13% 11% 27%
Don’t know 9% 8% 4% 8%

If there was another GFC, 40% would trust the Liberal Party more to handle it and 31% would trust the Labor Party more. When a similar question was asked last week, the results were 27% Labor/43% Liberal.

The only demographic groups trusting the Labor Party more were aged 18-24 (Labor 37%/Liberals 29%) and those earning less than $600pw (Labor 41%/Liberals 32%).

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Ratings of the Economy

Aug 8, 2011

Q. From what you have read and heard, how would you rate the state of the economy of Australia?

And how would you rate the state of the economy of the USA?

And how would you rate the state of the economies of the European countries?

Australia USA Europe
Total getting better 32% 5% 5%
Total getting worse 37% 84% 70%
Getting a lot better 7% 1% 1%
Getting a little better 25% 4% 4%
Neither getting better nor worse 28% 7% 14%
Getting a little worse 27% 26% 27%
Getting a lot worse 10% 58% 43%
Don’t know 2% 4% 10%

A majority believe that Australia’s economy is getting better but the economies of USA and Europe are getting worse.

53% of respondents think the Australian economy is getting better and 12% think it is getting worse. 62% think the USA economy is getting worse and 53% think the economies of European countries are getting worse.

For Australia, 63% of Labor voters, 66% of Greens voters and 44% of Liberal/National voters think the economy is getting better. Younger respondents were most optimistic about the Australian economy  – 60% of those aged under 35 think it is getting better compared to 46% of those aged 55+.

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