British economic optimism at its lowest level for two years
Economic optimism is at its lowest level since April 2013, Ipsos's latest Political Monitor reveals.
British economic optimism at its lowest level for over two years
Economic optimism is at its lowest level since April 2013, Ipsos’s latest Political Monitor reveals. A third (32%) of Britons think the general condition of the country will improve over the coming year; compared with just under four in ten (38%) who think it will get worse. Just over a quarter (27%) say it will stay the same. This gives an overall Economic Optimism Index score (% improve minus % get worse) of -6.
The last time the Index recorded a score lower than this was in April 2013 (-19), after the country had only narrowly avoided a double-dip recession in 2012. This is at a time of variable economic news. Unemployment is falling and pay rates are rising, but there have also been stories about, for example, the loss of jobs at the Redcar steelworks.
Women are more likely than men to be pessimistic about the condition of Britain’s economy. Over a third of men (37%) think the general economic condition of the UK will improve over the coming year, while only around a quarter of women (27%) say the same.
Similarly, the younger generation are also more despondent about Britain’s economic prospects. One in four (27%) 18-34s think the economy will improve, compared to 35% of 35-54s and a third (33%) of those over the age of 55.
There is also a regional divide, with 38% of people in the South optimistic about the economy, compared with 29% in the Midlands and 28% in the North.
Gideon Skinner, Head of Political Research at Ipsos, said:
"Economic credibility was one of the foundations of the Conservatives’ election success, but while Britons’ sunny mood lasted into the summer, with a generally positive reaction to the budget, it has now turned colder. The mood is also uneven, with women, young people and those outside the South particularly pessimistic."
Technical note
Ipsos interviewed a representative sample of 1,021 adults aged 18+ across Great Britain. Interviews were conducted by telephone 17-19 October 2015. Data are weighted to the profile of the population.
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