Poland's consumer confidence Carrefour Barometr down by 1.85pps m/m in February

By bne IntelliNews February 18, 2014

Carrefour Barometr - a consumer confidence indicator calculated by the Gdansk Institute for Market Economics (IBnGR) - decreased by 1.85pps m/m to -8.2pts in February (on a scale of 100 to +100). This was the index's first drop after three months of growth.
The ratio was negatively impacted by a decline of consumers' purchasing propensity, a decline of the current index of consumer confidence, worsening of business climate in trade, a slight acceleration of inflation as well as a decline of nominal dynamics of the enterprise sector's gross wages. The index's decrease was cushioned by a rise of nominal dynamics of household loans, a rise of real dynamics of retail sales as well as a rise of the number of employees in the enterprise sector.
Carrefour explained that the February drop of the index resulted mostly from a change of customers' patterns: the most dramatic declines were noted in terms of business climate in trade and of purchasing propensity, while other factors played minor role. It also noted that data coming from the Polish economy continue to signal an improvement, which allows to assess that the February drop is merely a correction in the 15-month-long upward trend.
Still, the barometer has been below the neutral (0pt) mark for 62 months now.

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