Poland: Consumer confidence retreats in March
March 27, 2013
The consumer confidence index (WOK) published by IPSOS fell from 79.8 points in February to 75.2 points in March. As a result, the index remains considerably below the 100-point threshold that separates optimism from pessimism.
The deterioration was broad-based, with all components of the index decreasing over the previous month. The economic climate index fell the most, followed by a decrease in the willingness to buy index.
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 1.1% in 2013, which is down 0.2 percentage points from last month's estimate. For 2014, panellists see private consumption growth accelerating to 2.5%.