The outcome of the Federal Election saw an upturn in sentiment about the economy, particularly among older Australian men, according to new research published by insurer Allianz.
The Allianz Future Optimism Index published this week found that after hitting a 12-month high in February with an Index Score of 12, optimism about the future of the economy slumped following the Federal Budget in May to a score of 5 and stayed at subdued levels in July.
However, it said that with a score of 13, the post-election index had rebounded to February's levels and, in pure numerical terms, was at the highest score since early 2011.
Commenting on the result, Allianz Australia managing director Niran Peiris said that, overall, Australians' optimism about the future of the economy had rebounded strongly following the Federal Election.
"The biggest rise however has been among senior Australians, that is, those aged 65 or more," he said.
"The rise in optimism about the economy among senior Australians was the key driver of the overall rise."
Peiris said that, traditionally, when overall economic optimism had been high, it had been both younger Australians, that is, those aged 18-43, and senior Australians that had recorded the highest levels of optimism, but the post-election rise had been limited to only older Australians.
Originally published on SMSF Essentials.
