Poland: Consumer confidence continues to rise in May
May 29, 2013
The consumer confidence index (WOK) published by IPSOS rose from 77.4 points in April to 82.7 points in May, which represents the highest level observed in 10 months. Nevertheless, despite the improvement seen in the last two months, at its current level the index remains considerably below the 100-point threshold that separates optimism from pessimism.
The rise in consumer sentiment mainly reflects an increase in the economic climate index, the current index as well as in the expectations index.
That said, consumers' negative perception of their economic well-being does not bode well for private consumption growth going forward. FocusEconomics Consensus Forecast panellists expect private consumption to grow a meagre 0.8% in 2013, which is unchanged from last month's estimate. For 2014, panellists see private consumption growth accelerating to 2.4%.