ALP economic optimism returns
The post-Federal Budget economic malaise has proven short-lived, according to a new survey, which found optimism about the economic state of affairs has surged among non-Coalition voters.
Despite being widely considered the toughest budget since 1996 and temporarily paralysing economic optimism, confidence in the economy quickly rebounded to its pre-budget score of 10 on Allianz's Optimism Index, the insurer reported today.
The boost was driven mainly by Labor and non-Coalition voters, who recorded a sharp fall in economic confidence post-Budget.
Coalition voters' economic outlook remained relatively unchanged after the Budget and has been high since the election, the Index showed.
However, Allianz said the optimism score masked some key demographic variances in outlook.
Men under the age of fifty, from the Eastern states of Australia, were largely behind the surge, while women, middle-aged Australians (50-64) and those on the Western side were "still in the economic doldrums".
Allianz Australia Managing Director, Niran Peiris, said overall the survey of around 1200 Australians proved fairly typical.
"Australians' optimism about the future of the economy has completed its normal Federal Budget cycle, that is, slumping after the budget and returning to pre-budget levels within the following few months," Peiris said.
"However, the overall results continue to disguise clear divides in optimism between different groups of Australians depending on their gender, age and the State in which they live."
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