Another record-breaking Index
In the recent weeks consumers displayed clearly favourable views on the condition of their households as well as on the economic situation of the country in general, with the prospects even more optimistic. The most recent survey revealed a slightly more numerous groups of consumers who share a negative view on the macroeconomic factors, and who were not optimistic with regard to potential improvement of the economic situation in the coming months. However, their perception of the situation from the point of view of their own household budgets was much more favourable.
It seems that consumers consider their situation to have stabilised recently, and they also see potential for further improvement, which is certainly going to stimulate them to make bolder purchase decision and take on potential financial obligations. This is reflected, among others, by the economic growth indicators monitored by the Polish General Statistical Office (GUS).
The aforementioned bolder purchase decisions amount to more than just daily consumption expenditure, and involve investments and durable-use goods purchases as well (including cars). The new car sales market has been growing in Poland for at least a dozen months, with the majority of buyers being businesses.
However, the number of cars purchased by private customers is on the rise as well, with the Polish Automotive Industry Society (PZPM) highlighting a 10.5% increase in purchases within this customer group in their September report. Buying a car is a fairly big event for any household, as well as a considerable strain on the family budget. Keeping that in mind, a double-digit growth indicates that we’re doing increasingly better as a society, and our outlook on the future is optimistic for now.
As long as no unexpected events, such as a global economic crisis or political and military conflicts, change the rules on international markets by affecting our (or our main partners’) economic standing, it seems that the positive trend in consumer moods is likely to continue throughout the coming months. Up until the next election?