Bellwether
A bellwether is a
In
Etymology
The term derives from the
The word was first used in the above meaning in the 15th century.[3]
In economics
In the world of economics and finance, a 'bellwether' is a leading indicator of an economic trend.[1][2]
In the stock market, a 'bellwether' is a company or stock taken to be a leading indicator of the direction in a sector, in an industry or in the market as a whole. Bellwether stocks therefore serve as short-term guides. JPMorgan Chase is a U.S. example of a bellwether. As one of the major banks in the United States, its stock sets the tone for the rest of the banking industry. JPMorgan Chase also has contracts with companies in other industries, so its performance is reflected in other sectors of the market. Tata Consultancy Services is similarly a bellwether for technology stocks in the Indian markets, BSE and NSE.[2]
Similarly, a bellwether bond is "a government bond whose changes in interest rate are believed to show the future direction of the rest of the bond market."[4]
The quarterly Bellwether Report, published by the Institute of Practitioners in Advertising (IPA), monitors trends in expenditure in the UK advertising and marketing industry.
In law
In politics
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constituency, the control of which tends frequently to change, can have a popular vote that mirrors the result on a national scale.
An electoral bellwether can be a American statistician and political scientist Edward Tufte and his student Richard Sun defined electoral bellwethers (in the US) into the following categories:[6]
AustraliaIn Australian federal elections, the Division of Robertson in New South Wales became the nation's new longest-running bellwether seat, continuously won by the party that also won government since the 1983 federal election. Previously, the electoral division of Eden-Monaro elected its Member of Parliament from the party which won government at every federal election from 1972 until 2016, when the record was broken after Labor won the seat, while the Coalition won government. The Division of Lindsay in NSW, has elected its Member of Parliament from the party which won government in every Federal election since its creation in 1984 until 2016. Both Lindsay and Eden-Monaro lost their bellwether status at the 2016 federal election, both electing Labor MPs, despite a narrow Coalition win nationwide. The Division of Makin in South Australia was a bellwether division from 1984 to 2010, although ceased its bellwether record in 2013, when Makin stayed Labor as the Coalition regained power nationwide. Also, in terms of nationwide two party preferred vote, Eden-Monaro, Lindsay, Robertson and Makin have bucked the bellwether trend in the past by voting Liberal at the 1998 federal election. In purely statistical terms, the state of New South Wales, which has the largest population of any Australian state or territory, could also be considered a "bellwether", as, until the 2016 federal election the party which wins government has won the majority of House of Representatives seats in that state at every election since 1963. Unlike many bellwethers, these are cited by analysts solely for their record and are not usually attributed to demographic factors that reflect the median of Australia. List of electorates described as bellwethersFederal electoral divisionsBelow are seats that have been classified as bellwether seats won by the party forming government at least once at one of the past 10 elections. Below the winning party is the two-party-preferred vote.
CanadaIn the Canadian province of Ontario, Sarnia—Lambton (and its predecessor ridings) voted for the winning party in every federal election from 1963 until 2011. This streak was broken in 2015, when the Conservative Party held the district while the Liberal Party won government, and the riding has become reliably Conservative since. Toronto—St. Paul's has only elected three opposition MPs since it contested its first election, as St. Paul's, in 1935, although it has become reliably Liberal in recent years. Burlington and St. Catharines currently share the longest active streak, having elected an MP from the winning party since 1984. Also in Ontario, Peterborough—Kawartha (called Peterborough until 2015) has consistently elected the party which has won the provincial election since 1977. In federal politics, the coterminous federal electoral district Peterborough—Kawartha (also called Peterborough until 2015) elected a member of the winning party from 1965 to 1979 and 1984 until 2021, inclusive. In Alberta, the provincial electoral district Peace River has elected only three opposition MLAs since the province was founded in 1905. In Manitoba, the federal district of Winnipeg South has voted for the winning party in each election since it was re-formed in 1988; a previous version of the same riding, which elected MPs from 1917 until 1974 inclusive, voted against the national winner only three times, most recently in 1965. Also in Manitoba, the provincial riding of Rossmere, which has existed since 1969, has voted for the candidate from the governing party in every general election since it was first contested except for that of 1977; it also elected opposition MLAs at by-elections in 1979 and 1993. GermanySince the creation of the Federal Republic of Germany (then Hannover respectively), nor large rural Catholic populations, the traditional base of the SPD and CDU/CSU respectively. Schleswig-Holstein is also famous for having had several state elections result in a one-seat majority for the winning coalition and Lower Saxony's 1998 election (in which Gerhard Schröder was the SPD candidate) is often seen as a "trial run" for the subsequent federal election (which Schröder also won).
Of the first vote constituencies (Erststimmen), the constituency of Pinneberg (also located in Schleswig-Holstein) has voted for the party of the subsequently chosen Chancellor in all elections except for 1949.[7] Both the 1949 and the 1969 elections were rather narrow, the former resulting in a one-vote majority in the election for chancellor and the latter resulting in a 12-seat majority that had broken down due to defections by 1972. In 2005 SPD and CDU/CSU were only separated by one percentage point and four seats in the final tally. In the First Mayor of Hamburg, Olaf Scholz, the State of Hamburg borders both Lower Saxony and Schleswig-Holstein, but Scholz did not run in Hamburg during that election, instead representing the District Potsdam – Potsdam-Mittelmark II – Teltow-Fläming II in Brandenburg (where he incidentally ran against Annalena Baerbock candidate for chancellor of Alliance 90/The Greens , drawing additional media attention to the District).
IndiaTwo individual seats, general elections in India.[8] Furthermore, the party that wins the majority of seats in Delhi has always gone on to form the national government since 1998.[9]
The state of Uttar Pradesh is also seen as a bellwether, with the national government having been formed the majority of times by the party that won the most seats in the state.[10] IrelandIreland has a proportional representation electoral system, in which politicians are elected by the single transferable vote. Bellwethers here can only be measured by the number of candidates from each side elected to Ireland's multiple-seat constituencies that elect an odd number of members. Between the 1981 general election and 2011 general election, Meath and its successors, Meath East and Meath West, have elected a majority of Fianna Fáil TDs in years when Fianna Fáil formed the government, and a majority of Fine Gael and Labour TDs when those parties formed the government. New ZealandIn New Zealand, there are three generally accepted bellwether electorates: Hamilton East and Hamilton West, both based around the city of Hamilton,[11] and Northcote on Auckland's North Shore.[12] Hamilton West and Northcote missed one election each since they were first contested in 1969 and 1996 respectively — the 1993 election for Hamilton West and the 2005 election for Northcote. Hamilton East, first contested in 1972, has missed three elections — 1993, 1999, and 2005. They were all held by the National Party in the 2017 election although Labour formed the government after the election. Since the National Party was still returned as the largest party in Parliament, however, the two electorates did in fact retain their bellwether status, albeit to a limited extent. PhilippinesIn the Philippines, the winner of the Philippine presidential election has won in Negros Oriental in all instances since 1935 except for 1961 and 2016, and in Basilan since its creation in December 1973 (first election in 1981). After Negros Oriental voted for the runner-up in 2016, Agusan del Norte and Lanao del Sur then had the longest active streak, having its provincial winners be the elected president since the 1969 election . Lanao del Sur then voted for the loser in 2022, giving Agusan del Norte the longest streak.
For vice presidential elections, Pangasinan has voted for the winner in all elections save for 1986 and 2016. PortugalIn every general election to the Portuguese National Assembly since the restoration of democracy in 1975, the electoral district of Braga has voted for the party or coalition that has won the most seats in the election. (Note that following the elections of 2015, a minority government was eventually formed by the second-largest party in the Assembly.) In every general, European Union, mayoral (except 2009), or presidential elections since the Carnation Revolution, the Portuguese capital of Lisbon voted for the party or coalition that won the highest percentage in the elections. RomaniaPresidential elections The counties that voted in the first round for the winning candidate:
SwedenThe expression "Som Ljungby röstar röstar Sverige" ('As Ljungby votes, Sweden votes') was coined in the early-1970s, but more recently (in 2006) voting results in Karlstad, Kalmar, and Halmstad more closely resembled the result of the whole nation in elections to the Riksdag.[13] While since long having shifted right versus the national results, by 2022 this had further extended. In that election Ljungby was 17 points more to the right than Sweden in general.[14] According to Gallup Polls showing voting intentions in the area.[15][13] Karlstad swung to the left in the 2010s and by 2022 was seven points to the left of Sweden.[16] Therefore, Karlstad is no longer a proper bellwether town.
By 2022, the status of bellwethers in Sweden often moved to post-industrial towns for differences between the various municipalities, but also some commuter towns being candidates. This status shifted rapidly due to the big cities moving to the left and smaller towns to the right. Among sizeable municipalities that came within half a point of the national average in 2022 included Alingsås, Borlänge, Gävle and Karlskoga. These municipalites were won by the right coalition with narrow margins.[17] In addition, several smaller municipalities came close to the national coalition differential, although no locations closely mirrored exact party results. United Kingdommalapportionment , apart from a few island seats. It is possible to dispute any long-term bellwether, citing such changes. However, those below have kept the bulk of their electors in the main, named constituency identified with the place they are named after.
Long-running bellwether constituencies
Former bellwether constituencies
While not strictly a bellwether, Sunderland South (Labour since 1964) was often used in election programming to predict the swing of a general election - principally because it was often the first to declare - though with variable accuracy. London Borough electionsSince Greater London formed during 1964–1965, Hammersmith and Fulham London Borough Council elections have matched those of the party who run (usually with the GLA, or more lately Mayor of London and Assembly) the most London authorities except went its "miss" to Labour's majority of London councils in 2010 (which has endured since) and the reverse miss in 1978 and 1982. In the latter two results no overall control was the local result. Scottish ParliamentThe constituencies of Cunninghame North, Stirling and Na h-Eileanan an Iar have all elected MSPs from the party which won the plurality of seats in the election overall for every Scottish Parliament election .
Also, the constituencies of predecessor constituencies (Livingston, Dundee West, Edinburgh East & Musselburgh, Glasgow Govan, Kilmarnock & Loudoun and Fife Central) achieved in the 1999, 2003 and 2007 elections.
Welsh ParliamentThe following Senedd (and former Assembly) election since 1999:
As Labour has won the most seats since the Welsh Assembly was founded in 1999, this is a list of seats which have always voted Labour. United StatesFor a list of bellwether counties, see List of election bellwether counties in the United States. The American states with the current longest streak of voting for the winners in the electoral college are Michigan, Pennsylvania, and Wisconsin; their streaks date back to only 2008. The American bellwether states can also be determined in different ways (with respect to presidential elections): Highest percentage for varying lengths of time
Highest percentage for a set length of time Electoral record of the states for presidential elections, 1896–2020:[19]
Highest percentage of the current party system, 1980-2020
Smallest deviation from the national average Another way to measure how much a state's results reflect the national average is how far the state deviates from the national results. The states with the least deviation from a two-party presidential vote from 1896 to 2012[20] include: States that were considered bellwether states from the mid-to-late 20th century include:
Historic bellwether states:
The 2020 election Joe Biden defeated incumbent Donald Trump without winning either Ohio or Florida. He won Arizona, which no other Democratic candidate had won since 1996, and Georgia (of similar population size to Ohio), which no Democrat had since 1992 , meaning the number of swing states has increased and a winning Democratic campaign could, potentially, focus much less on Ohio and Florida.
OthersBrazilIn 2022, inclusive.[26] It has more than 21 million residents, includes Belo Horizonte and has been birthplace of the record of nine presidents to date.[27] The state has 10.1% of the population.
It is varied in topography and larger than Metropolitan France, being considered as a microcosm of Brazil's society and economics as a whole.[28] FranceSince the substantial role began in 1958, under the French Fifth Republic, the president has since 1965 in the final (second) round always won: diminutive Ardèche and with about double its population each, Calvados, Charente-Maritime, Indre-et-Loire and Loire.[29][30] Together these account for more than 3 million residents. Each combines urban with rural and many touristic sites. South KoreaSince the North Chungcheong is the only one of the 17 first-tier divisions in which the most voted candidate for the presidency has consistently become the national winner. It has more than one and half million residents.
SpainSince democracy was restored in 1977, up to 2019 two provinces have always voted for the winning party (Zaragoza and Huesca). The Autonomous Community of Aragon hosts these provinces. Aragon is, moreover, the sole Autonomous Community to have done so.[31] It has more than a million residents and combines much rural land with mountains and socially diverse urban communities. TaiwanFrom the first competitive multi-party elections in region of Taiwan of more than a million residents, is where the preference has matched the elected president.
See also
ReferencesLook up bellwether in Wiktionary, the free dictionary.
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