Australians are feeling decidedly less optimistic about the immediate outlook for the economy, according to the latest research released by Allianz Australia.
The research, contained in the company’s optimism index, revealed optimism had reached a particular low in Queensland just ahead of the recent State Election.
It said that while Western Australians remained more optimistic than other Australians, their level of optimism had nearly halved since January.
The data pointed to the drop in optimism being driven by middle-aged men (35 to 64) whose optimism scores were at record lows.
Commenting on the results, Allianz Australia managing director, Terry Towell, said that overall, Australians’ optimism about the future of the economy had hit a low point in March with an Optimism Score of only 5, down from the level of 8 recorded in January.
"This is less than half the double digit scores achieved throughout most of 2011 and well down on the score of 20 in November 2010," he said.
“Looking at the results in more detail reveals that the overall national fall in optimism is being driven by a less optimistic outlook among men, those living in Queensland and Western Australia and those aged between 35 and 64," Towell said.
He said that in all cases, their optimism about the future of the economy had hit the lowest levels recorded in the last 18 months.
