The state-run Statistics Poland (GUS) agency said its Current Consumer Confidence Index, which describes current trends in personal consumption, went down by 2.3 points in May, slipping deeper into negative territory of “minus 13.8” points.
Polish consumers surveyed this month were less positive about the economy than a month earlier, and their evaluation of their household finances and spending power also worsened from April, according to Statistics Poland.
The Current Consumer Confidence Index was 16.1 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, dropped by 1.4 point in May from April, to “minus 8.2” points, Statistics Poland reported.
It added that consumers were less upbeat than a month earlier in their evaluation of the future condition of the economy and their own financial prospects.
The Leading Consumer Confidence Index was 7.1 points higher in May than in the same month of 2023, the office reported this week.
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 6 and 15.
Nearly 60 percent of those surveyed said their responses were impacted by "the current situation in Ukraine," Statistics Poland reported.
(gs)
Source: PAP, stat.gov.pl