Polish consumer sentiment improves in December

Consumer sentiment in Poland has improved this month, after declining in the previous two months, the country’s Central Statistical Office (GUS) has reported.

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After a downward trend in October and November, the state-run statistics agency said its Current Consumer Confidence Index, which describes current trends in personal consumption, rose by 4.3 points in December, while remaining in negative territory of “minus 24.9” points.

Polish consumers surveyed this month were more positive about the prospects of the economy than a month earlier, and their evaluation of their own financial prospects also improved from November, according to the Central Statistical Office.

Compared with December last year, the Current Consumer Confidence Index was 29.2 points lower, the statistical office said.

Meanwhile, the so-called Leading Consumer Confidence Index, which provides an insight into expected trends in personal consumption in the coming months, rose by 5.9 points in December from November, to “minus 24.2” points, the Central Statistical Office reported.

It added that all the components of that indicator improved, including how consumers evaluate the future level of unemployment and the future financial situation of their own households and the economy as a whole.

The Leading Consumer Confidence Index was 23.4 points lower in December than in the same month of 2019, the office reported.

Both consumer confidence indicators take values from -100 to +100. A positive value means that optimistic attitudes prevail among consumers, while a negative value indicates a prevalence of pessimistic views.

The latest consumer sentiment study was conducted between December 1 and 10, the Central Statistical Office reported.

In April, consumer sentiment in Poland had plunged to its lowest level since 2004.

(gs)

Source: PAP, stat.gov.pl

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