The state-run Statistics Poland (GUS) agency said its Current Consumer Confidence Index, which describes current trends in personal consumption, went up by 3.8 points in January, while remaining in negative territory of “minus 38.1” points.
Polish consumers surveyed this month were more positive about their spending power than a month earlier, and their evaluation of the economy and business trends also improved from December, according to Statistics Poland.
Compared with January last year, the Current Consumer Confidence Index was 8.9 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 3.1 points in January from December, to “minus 27.6” points, Statistics Poland reported.
It added that most 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 4.1 points lower in January 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 January 2 and 12.
Nearly 67 percent of those surveyed said their responses were impacted by "the current situation in Ukraine," Statistics Poland reported.
(gs)
Source: PAP, stat.gov.pl