Essential Report

Economic expectations post Covid-19

Jul 6, 2021

Q. Which of the following is closer to your expectations of what will happen to the economy following the Covid-19 situation?

  Jul’21 Dec’20 Apr’20
The economy will rebound within 2-3 months and grow just as strong or stronger than before Covid-19 19% 18% 13%
The economy will be impacted for 6-12 months or longer and will stagnate or show slow growth thereafter 41% 43% 49%
Covid-19 will have long lasting impact on the economy and the country will fall into a lengthy recession 26% 22% 28%
Unsure 13% 17% 10%
Base (n) 1,099 1,071 1,054

 

  Total Gender Age Group Federal Voting Intention
  Male Female 18-34 35-54 55+ Labor TOTAL: Coalition Greens TOTAL: Other
The economy will rebound within 2-3 months and grow just as strong or stronger than before Covid-19 19% 23% 15% 17% 18% 22% 14% 29% 16% 15%
The economy will be impacted for 6-12 months or longer and will stagnate or show slow growth thereafter 41% 45% 38% 44% 39% 42% 45% 44% 45% 25%
Covid-19 will have long lasting impact on the economy and the country will fall into a lengthy recession 26% 23% 29% 26% 29% 24% 29% 17% 31% 49%
Unsure 13% 9% 17% 13% 14% 12% 12% 10% 8% 11%
Base (n) 1,099 539 560 341 373 385 404 388 87 114
  • Most people expect the economy to recover in 6-12 months following the impact of Covid-19 (41%), with a further 19% thinking it will recover in the next 2-3 months.
  • Expectations of a quick recovery in the next 2-3 months is highest among men (23%), older people aged over 55 (22%) and Coalition voters (29%).
  • There has been an increase in the proportion of people expecting a lengthy recession following the pandemic. 26% now expect this scenario, up from 22% last December.

Economic expectations post Covid-19

Dec 15, 2020

Q. Which of the following is closer to your expectations of what will happen to the economy following the Covid-19 situation?

  14/12 27/04 20/04 13/04 06/04
The economy will rebound within 2-3 months and grow just as strong or stronger than before Covid-19 18% 13% 11% 12% 11%
The economy will be impacted for 6-12 months or longer and will stagnate or show slow growth thereafter 43% 49% 47% 49% 51%
Covid-19 will have long lasting impact on the economy and the country will fall into a lengthy recession 22% 28% 30% 27% 29%
Unsure 17% 10% 11% 11% 9%
Base (n) 1,071 1,054 1,051 1,068 1,069

 

  Total Gender Age Group Federal Voting Intention
  Male Female 18-34 35-54 55+ Labor TOTAL: Coalition Greens TOTAL: Other
The economy will rebound within 2-3 months and grow just as strong or stronger than before Covid-19 18% 27% 10% 18% 22% 15% 15% 25% 13% 21%
The economy will be impacted for 6-12 months or longer and will stagnate or show slow growth thereafter 43% 42% 44% 45% 38% 47% 47% 48% 46% 36%
Covid-19 will have long lasting impact on the economy and the country will fall into a lengthy recession 22% 18% 25% 18% 25% 22% 25% 17% 32% 33%
Unsure 17% 13% 20% 19% 15% 16% 13% 10% 10% 10%
Base (n) 1,071 539 532 339 374 358 356 406 102 107
  • There is now more uncertainty about the future of the economy than earlier in the year. 17% say they are unsure how the economy will rebound following Covid-19, up from 10% in April.
  • 18% think the economy will rebound in the next 2-3 months (up from 13% in April) and 22% think Covid-19 will cause a long-term recession (down from 28%).
  • However most people think there will be some growth in the economy after 6-12 months (43%).

Federal Budget and post Covid-19 economic recovery

Oct 20, 2020

Q. To what extent do you agree or disagree with the following statements about the recent Federal Budget and the direction for the country to recover from the Covid-19 pandemic?

  TOTAL:

Agree

TOTAL:

Disagree

Strongly agree Somewhat agree Neither agree, nor disagree Somewhat disagree Strongly disagree Unsure
The decisions the government makes now will affect the future health of the economy 75% 5% 43% 33% 13% 3% 2% 7%
The government should take the recognition if their budget measures work, just as they should take responsibility if they do not 70% 5% 36% 34% 17% 4% 2% 8%
There were better approaches to the budget like investing in jobs and services 51% 10% 20% 31% 29% 8% 2% 11%
The global pandemic means that the health of the economy is out of the government’s control 49% 21% 18% 32% 22% 15% 6% 7%
  • There is strong agreement that the Government is responsible for the future of the economy. 75% agree that ‘The decisions the government makes now will affect the future health of the economy’ and 70% of people agree that ‘The government should take the recognition if their budget measures work, just as they should take responsibility if they do not’
  • However, half of people (49%) agree with the statement that ‘The global pandemic means that the health of the economy is out of the government’s control’. Coalition voters are more likely to agree with this statement than Labor voters (58% to 48%).
  • Half of people agree that ‘There were better approaches to the budget like investing in jobs and services’ (51%). Those more likely to agree with this statement include Labor voters (60%), those in paid employment (56%) and men (56%).

COVID-19 RESEARCH

Read Essential's ongoing research on the public response to Covid-19.

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