Current Polish consumer confidence index and leading indicator rose m/m in January

by   CIJ News iDesk III
2023-01-19   10:52
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The current consumer confidence index (BWUK) rose by 3.8 percentage points m/m to minus 38.1 points in January this year, according to a survey conducted by the Central Statistical Office (GUS).

All components of the index achieved higher values than a month ago. The largest increases were recorded for assessments of the country's future economic situation and the country's current economic situation (increases of 5.1 percentage points and 4.2 percentage points, respectively). For the other components of the index, the increases were as follows: 4.1 percentage points for the assessment of the future financial situation of the household, 3.3 percentage points for the assessment of the current ability to make important purchases, and 2.3 percentage points for the assessment of the current financial situation of the household, according to GUS.

With respect to January 2022, the current BWUK value is 8.9 percentage points lower.

The leading indicator of consumer confidence (WWUK), which synthesizes the expected trends of individual consumption in the coming months, increased by 3.1 percentage points compared to the previous month and stood at -27.6.

The increase in the value of the index was most influenced by assessments of the country's future economic situation and the future level of unemployment (increases of 5.1 percentage points and 4.5 percentage points, respectively). An increase of 4.1 percentage points also occurred for assessments of the future financial situation of the household. Only the assessment of the possibility of future money saving (down 1.4 percentage points) was lower than a month ago, it was reported.

In January this year. WWUK reached a value 4.1 percentage points lower than in the same month of 2022.

This month, 1,611 interviews were conducted between 02-12-2022.

Source: GUS and ISBnews