Poland: Consumer confidence falls slightly in November
December 1, 2010
The consumer confidence index (WOK) published by IPSOS fell from 89.2 points in October to 88.2 in November. The result corroborates a relative stabilization in the sentiment gauge, which follows steep declines in the index during August and September. At the current level, the index remains below the 100-point threshold that separates optimistic from pessimistic sentiment. All but one component of the index deteriorated in comparison with the previous month. The willingness to buy sub-index inched up by 0.2 points, which contrasted a more pessimistic assessment for the general economy, as the economic climate sub-index dropped by 2.7 points. According to IPSOS, expected increases in the VAT and the government's plan to reduce a number of employees in public administration drove the overall index down. However, the recent release of better-than-expected GDP figures for the third quarter may boost confidence levels going forward.