The state-run Statistics Poland (GUS) agency said its Current Consumer Confidence Index, which describes current trends in personal consumption, went down by 1.9 points in August, slipping deeper into negative territory of “minus 15.9” points.
Polish consumers surveyed this month were less positive about the economy than a month earlier, and their evaluation of their household finances also worsened from July, according to Statistics Poland.
The Current Consumer Confidence Index was 6.4 points higher than in August last year, 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 1.3 points in August from July, to “minus 10.3” points, Statistics Poland reported.
It added that consumers were more optimistic about their financial prospects compared to a month earlier, but less hopeful about the future state of the economy.
The Leading Consumer Confidence Index was 0.2 points higher in August than in the same month of 2023, the office reported last week.
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 August 5 and 14.
More than 57 percent of those surveyed said their responses were impacted by "the current situation in Ukraine," Statistics Poland reported.
(gs)
Source: PAP, stat.gov.pl
