Households shaking off pessimism caused by pandemic

Households are shaking off the pessimism caused by the pandemic and the freezing of economic activity, as commented Sonia Buchholtz, the Confederation Lewiatan expert. As she added, the respondents signal increasing their savings, it is motivated by caution.

The Central Statistical Office (GUS) announced on Wednesday that in July there was an improvement in both current and future consumer sentiment. The current consumer confidence index (BWUK), synthetically describing the current trends in individual consumption, amounted to minus 13.4 and was 6.0 percentage points higher than in the previous month.

The leading consumer confidence index (WWUK), synthetically describing the trends in individual consumption expected in the coming months, increased by 10.3 percentage points, compared to the previous month and amounted to minus 13.6.

"In the light of today's publication of the GUS, consumer sentiment continued to improve in July,” the Lewiatan expert noted.

As she pointed out, "this is the first July survey confirming that households are shaking off the pessimism caused by the pandemic and the freezing of economic activity."

(PAP)