The state-run Statistics Poland (GUS) agency said its Current Consumer Confidence Index, which describes current trends in personal consumption, held steady in February, remaining in negative territory of “minus 12.6” points.
Polish consumers surveyed this month were more positive about their spending power than a month earlier, and their evaluation of their own financial condition also improved from January, according to Statistics Poland.
Compared with February last year, the Current Consumer Confidence Index was 23.4 points 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 1.5 points in February from January, to “minus 5.3” points, Statistics Poland reported last week.
It added that most components of that indicator declined, including how consumers evaluate the future financial situation of their households and the future level of unemployment. Respondents were also less positive than a month earlier about the future condition of the economy.
The Leading Consumer Confidence Index was 20 points higher in February than in the same month of 2023, 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 February 5 and 14.
Almost 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