The state-run statistics agency said its Current Consumer Confidence Index, which describes current trends in personal consumption, went down by 1.1 points in August, while remaining in negative territory of “minus 14.6” points amid the coronavirus pandemic.
Polish consumers surveyed this month were less positive about their spending power and financial prospects than a month earlier, but their evaluation of the economy improved from July, according to the Central Statistical Office.
Compared with August last year, the Current Consumer Confidence Index was 0.6 point higher, 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, dropped 0.6 points in August from July, to “minus 8.8” points, the Central Statistical Office reported.
It added that several key components of that indicator declined, including how consumers evaluate their saving prospects and the future financial situation of their households. Meanwhile, respondents were more positive than a month earlier about the future level of unemployment.
The Leading Consumer Confidence Index was 7.7 points higher in August 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 August 2 and 11.
Eighty 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.
(gs)
Source: PAP, stat.gov.pl