The state-run Statistics Poland (GUS) agency said its Current Consumer Confidence Index, which describes current trends in personal consumption, rose by 2.6 points in August over July, while remaining in negative territory of “minus 22.3” 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 July, according to Statistics Poland.
The Current Consumer Confidence Index was 22.6 points higher than in August last year, the statistical office said earlier this month.
Meanwhile, the so-called Leading Consumer Confidence Index, which provides an insight into expected trends in personal consumption in the coming months, rose 0.4 points in August from July, to “minus 10.5” 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 condition of the economy.
The Leading Consumer Confidence Index was 20.3 points higher in August 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 August 7 and 17.
More than 63 percent of those surveyed said their responses were impacted by "the current situation in Ukraine," Statistics Poland reported.
Thursday is day 554 of Russia’s war on Ukraine.
(gs)
Source: PAP, stat.gov.pl