Poland: Consumer confidence slides to an over three-year low in October
October 31, 2012
The consumer confidence index (WOK) published by IPSOS fell from 74.5 points in September to 72.1 points in October, which represents the lowest level since March 2009. As a result, the index fell further 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 willingness to buy index deteriorated the most, followed by a decline in the current index, which measures consumers' perceptions of their current financial situation as well as the state of the Polish economy. Consumers' negative perception of their economic well-being does not bode well for private consumption growth going forward.