About the Tasmanian Economic Index

The Index is designed to provide a comprehensive, relevant and specific indicator regarding the Tasmanian economic condition, and the needs and concerns of the Tasmanian people in relation to that condition.

It is designed to be a lead indicator - that is, provide an informed view on how people are feeling about their financial future. To do this, DBM Consultants, one of the world’s leading research companies, surveys 700 Tasmanians, asking nine key questions around four factors:

• Personal Financial Situation
• Personal Financial Worry
• Tasmanian Economic Situation; and
• Good Time to Buy

Using an 11 point scale, respondents provide DBM information on how they are feeling about each question in each factor. DBM then compile this information to establish an Index for each factor, and the overall Tasmanian Economic Index is then compiled from these results. We also analyse the effects that the economic conditions have on various groups by demographics such as age, gender, household structure and income, occupation and geographical region.

As the largest Tasmanian financial institution, we are committed to continuing the Index, and providing Tasmanian business, government and the community with useful data and analysis regarding our State’s sense of financial wellbeing. As such, these surveys will be conducted quarterly.

We have also supplied some of the key indicators that we use as an organisation to understand the economy in Tasmania. This should assist in contextualising the results of the Index.