Consumer moods on the up again - April
The tragic events at Smolensk and the subsequent national mourning have not shaken Poles’ confidence in the country’s economy or their expectations in regard to home finances.
In April the Consumer Confidence Index measured by Ipsos rose by 3.4 points on March’s level to the current value of 94.1 points. This result is in line with the long-term growth trend we have been observing since last April. Consumers are gradually regaining their confidence and belief in the power of Poland’s economy weakened so profoundly by the first signs of the economic crisis.
The improvement in moods seems to be the result above all of a distinct decline in consumer worries related to unemployment (a drop of 8 percentage points since March). Also worth noting is the significant improvement in ratings for the country’s current economic situation compared to the situation 12 months ago.
The index for willingness to buy has risen to 100.9 points, crossing the point of balance of 100 points for the first time since December 2008. Thus we have a slight advantage of optimists over pessimists in regard to assessment of one’s own material situation and attitude towards the purchase of durables. The higher level for this index this month is above all a result of improvement in ratings for households’ financial condition.
This information gives hope for further continuation of March’s growth in retail sales.
The CCI Consumer Confidence Index may take a value of from 0 to 200 points. The latest survey is based on the findings of a survey conducted between 9 – 10 April and from 19 to 26 April 2010 on a representative random-quota sample of 1004 Poles aged 15 and above.
