The state-run statistics agency said its Current Consumer Confidence Index, which describes current trends in personal consumption, went up by 1.3 points in July, while remaining in negative territory of “minus 13.5” points amid the coronavirus pandemic.
Polish consumers surveyed this month were more positive about the economy than a month earlier, and their evaluation of their own financial condition also improved from June, according to the Central Statistical Office.
Compared with July last year, the Current Consumer Confidence Index was 0.1 point lower, the statistical office also said.
Meanwhile, the so-called Leading Consumer Confidence Index, which provides an insight into expected trends in personal consumption in the coming months, rose 0.8 points in July from June, to “minus 8.2” points, the Central Statistical Office reported.
It added that most components of that indicator improved, including how consumers evaluate the future financial situation of their households. Respondents were also more positive than a month earlier about the future level of unemployment.
The Leading Consumer Confidence Index was 5.4 points higher in July than in the same month of 2020, 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 5 and 14.
Eighty-two percent of those surveyed said their responses were impacted by "the current epidemiological situation" in the country, the Central Statistical Office reported.
Poland's government has eased coronavirus restrictions and reopened the economy in a series of steps since May after the number of new infections dropped sharply from previous months.
In April last year, consumer sentiment in Poland plunged to its lowest level since 2004 amid the coronavirus pandemic.
Source: PAP, stat.gov.pl