March slippage

Although the current decline is not that substantial, it is reflected in all component CCI indices. The biggest fall was noted in expectations regarding change in the country’s economic situation and in consumers’ households over the coming 12 months (-4 points).

A distinct drop was also noted in assessment of the economic climate (-3 points), which is currently at 81.5 points. The lower score for this index is largely due to pessimistic expectations in regard to the future. On the other hand, the assessment of the country’s economic situation over the past year has only changed slightly (a drop of only 0.5 points since February).
Poles are increasingly worried in particular about rising unemployment – with as many as 43% of Polish consumers believing jobless numbers will swell during the next 12 months (6% more than in February). This is a return to the level in January this year. The rise in concern was greatest among consumers in a worse financial or occupational situation, i.e. those with household per capita income below 50% of the average and the unemployed.

The poorer ratings for consumers’ financial situation in their households, and especially in regard to the future, were also reflected in a slip in consumers’ willingness to buy, as confirmed by retail sales results in February (according to the Central Statistical Office). This may derive from consumers being more worried about their income due to the perceived risk of losing their jobs.

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The CCI Consumer Confidence Index can take a value of from 0 to 200 points. The latest survey is based on the findings of a survey conducted between 4and 14 March 2010 on a representative random-quota sample of 1008 Poles aged 15 and above.