The state-run Statistics Poland (GUS) agency said its Current Consumer Confidence Index, which describes current trends in personal consumption, rose by 2.3 points in May, while remaining in negative territory of “minus 29.9” 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 April, according to Statistics Poland.
The Current Consumer Confidence Index was 8.5 points higher than in May 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 4.4 points in May from April, to “minus 15.3” 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 12.6 points higher in May 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 May 8 and 17.
More than 66 percent of those surveyed said their responses were impacted by "the current situation in Ukraine," Statistics Poland reported.
Friday is day 457 of Russia’s war on Ukraine.
(gs)
Source: PAP, stat.gov.pl
