Polish consumer sentiment up in July: stats office

Consumer sentiment in Poland has improved this month, the country’s statistics office has reported, amid reduced worries over the economy and the impact of Russia’s war in Ukraine.

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The state-run Statistics Poland (GUS) agency said its Current Consumer Confidence Index, which describes current trends in personal consumption, rose by 3.3 points in July, while remaining in negative territory of “minus 24.9” points.

Polish consumers surveyed this month were more positive about their financial prospects than a month earlier, and their evaluation of business trends also improved from June, according to Statistics Poland.

The Current Consumer Confidence Index was 16.8 points higher than in July last year, the statistical office said on Thursday.

Meanwhile, the so-called Leading Consumer Confidence Index, which provides an insight into expected trends in personal consumption in the coming months, rose 3.9 points in July from June, to “minus 10.9” points, Statistics Poland reported.

It added that all components of that indicator improved, including how consumers evaluate the financial prospects of their households and the future level of unemployment. Respondents were also more positive than a month earlier about the future condition of the economy.

The Leading Consumer Confidence Index was 18.5 points higher in July than in the same month of 2022, 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 July 3 and 12.

More than 64 percent of those surveyed said their responses were impacted by „the current situation in Ukraine,” Statistics Poland reported.


Source: PAP, stat.gov.pl

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