Poland: Consumer sentiment on the rise
July 29, 2011
The consumer confidence index (WOK) published by IPSOS increased from 84.8 points in June to 85.8 points in July, representing a fourth consecutive increase in the index. The monthly 1.0 point rise drove sentiment closer to the 100-point threshold that separates optimism from pessimism. With the July reading, the consumer confidence index returned to levels last seen in February 2011, after sentiment plunged abruptly in March, shaving off 10.5 points from the index. That said, consumer sentiment remains subdued as survey participants continue to view high unemployment, and the negative financial situation of households, as the main factors for depressed confidence. According to IPSOS, three out of four components of the consumer confidence index improved with respect to the previous month. Most notably, the economic climate index registered the largest increase by rising 1.7 points. Improving consumer confidence points to better prospects for household spending.