Consumer confidence index in February

2010-03-15

Consumer confidence index: 93.08 pts., +3.67 pts.
Propensity-to-buy index: 98.72 pts., +0.73 pts.
Economic climate index: 84.63 pts., +8.10 pts.

In February 2010 the Consumer Confidence Index (CCI) increased by almost 3.7 points, in comparison with January, to 93.1 points, according to research carried out by Ipsos. The fact that the index is below 100 points means that there are still more pessimists than optimists among Polish consumers. This is the second consecutive month to see an increase after the fall reported in December. The CCI is back to the level of the final months of 2008, after which there was a considerable slump in its value. Ipsos emphasises that the CCI dropped by 13 points in February 2009, the most substantial fall ever.
The respondents are more confident with regard to the country’s economic condition, and this was reflected in the fact that the economic climate index rose by 8.1 points in February 2010. Ipsos emphasises that there was a significant reduction in the proportion of respondents who expect the unemployment rate to increase in the near future (from 43% in January to 37% in February 2010), whereas the official statistical data showed that January was another consecutive month in which the number of jobless increased.
The propensity-to-buy index remained almost unchanged. Ipsos insists that the fact that retail sales declined during the same period is proof that consumer sentiment has not deteriorated and that the reduction in sales might have been caused by the harsh weather rather than customer pessimism.



The consumer confidence index (CCI) can range from 0 to 200 points. The calculation of this index is based on the answers given to five questions asked in an Ipsos survey. The survey was carried out between 4 and 11 February on a random representative quantitative sample of 1,009 Poles of 15 or more years of age. The statistical error for this figure is no greater than (+/-) 3.1% at a confidence level of 0.