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).
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%).
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%.
17
Economic Prosperity
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.
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%).
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.
15
The Australian Economy
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.
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+
15
Trust to deal with GFC
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%).
8
Ratings of the Economy
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+.
Q. How much impact do you think the economies of other countries have on Australia’s economy?
| Total | Vote Labor | Vote Lib/Nat | Vote Greens | |
| A lot | 47% | 44% | 49% | 46% |
| Some | 41% | 44% | 42% | 48% |
| A little | 8% | 10% | 7% | 6% |
| None | * | - | - | - |
| Don’t know | 3% | 2% | 2% | - |
47% think that the economies of other countries have a lot of impact on the Australian economy and 41% think they have some impact. Only 8% think they have little or no impact. There were no major differences across demographic groups.
Essential Report
Two Party Preferred: 05 March 12
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