Poland: Consumer sentiment drops for a third consecutive month
January 28, 2011
The consumer confidence index (WOK) published by IPSOS plunged from 87.2 points in December to 83.6 points in January. The steep decline, which followed relatively moderate falls in November and December, represented the largest drop in consumer sentiment since October 2010. As a consequence, the index fell further below the 100-point threshold that separates optimism from pessimism. According to IPSOS, expected cuts in government expenditure and announced changes in the pension scheme dragged consumer confidence down at the beginning of 2011. Additional data show that while consumers are less upbeat about the economic climate in January they show a higher willingness to buy. Furthermore, consumers are more pessimistic about both current and future expectations.