Australian economic outlook reaches record lows
Allianz's Future Optimism index has found that many Australians believe dark days lay ahead for the economy, with optimism falling to a new low in March.
Queenslanders reached a new low point just before the recent election, and while Western Australians remain more optimistic than other states, levels there have nearly halved since January.
"Overall, Australians' optimism about the future of the economy has hit a low point in March with an Optimism Score of only 5, down from the level of 8 recorded in January," Allianz Australia managing director Terry Towell said.
"While the difference in optimism between those living in the West and other Australians appears to reflect Australia's two-speed economy, optimism about the future of the economy overall is at a low point, suggesting that global uncertainties continue to take their toll on Australians' view of the future."
Towell said optimism levels were being driven down by men, those living in Queensland and Western Australia, and those aged between 35 and 64. In all cases, optimism about the future of the economy reached a record low for the last 18 months.
Optimism has also fallen among Coalition voters and has remained flat for ALP voters since January.
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