Poland: Consumer sentiment records largest drop in almost three years
December 2, 2011
The consumer confidence index (WOK) published by IPSOS dived from 88.2 points in October to 77.0 points in November, which represented the largest drop since February 2009 and marked the lowest level since March this year. According to IPSOS, a substantially lower sentiment in November reflected the respondents' preoccupation with a prospective economic slowdown in the Eurozone and its effect on the Polish economy. The deterioration in confidence was broad-based, with all components of the index deteriorating over the previous month. In particular, the economic climate index plunged 17.0 points, followed by the expectations index, which dropped 14.7 points.