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English Section

Polish consumer sentiment edges up as economy reopens

22.05.2020 06:30
Consumer sentiment in Poland has edged up in May after a severe slump a month earlier, the country’s Central Statistical Office (GUS) has reported, as the economy emerges from a coronavirus lockdown.
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Pixabay LicenseImage by Gerd Altmann from Pixabay

The state-run statistics agency said that its Current Consumer Confidence Index, which describes current trends in personal consumption, improved by 6.3 points from April, while remaining in negative territory of “minus 30.1” points.

Polish consumers were more positive about the prospects of the economy than a month earlier, but their evaluation of their own financial condition deteriorated from April, the office also said.

Compared with May last year, the Current Consumer Confidence Index dropped by 38.4 points, 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, rose by 10.4 points in May from April, to “minus 37.3” points, the Central Statistical Office reported.

It added that all the components of that indicator improved, including how consumers evaluate the future level of unemployment and the future financial situation of their own households and the economy as a whole.

However, the Leading Consumer Confidence Index was 42.2 points lower in May than in the same month of 2019, 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.

In April, consumer sentiment in Poland had plunged to its lowest level since 2004 amid the coronavirus pandemic, according to a report.


Source: money.pl, PAP, stat.gov.pl