Christmas cheer is not enough
The TNS Consumer Index has reached its lowest value since president Andrzej Duda was sworn in, or in other words: since August 2015. In the recent years, the festive season used to reinforce positive moods in the society, which resulted in the Index reaching its highest annual values in December. Unfortunately, recent news on the Polish economy resulted in negative opinions becoming prevalent among Poles, and 2016 concluded with the Index reaching -5.7.
Comparing with the previous month, evaluations of the economic situation of the country and of households, evaluation of the dynamics of these changes, as well as predictions concerning the economic situation of the country and households have all deteriorated. Apart from reports concerning a slower rate of economic growth in Poland and a rapid decrease in investments, this may have also been caused by the price increases planned for 2017 (pertaining, among others, to automotive insurance, electricity, or water), which will have a direct impact on the budgets of individual households.
Furthermore, Poles’ moods change in an interesting way depending on age and place of residence. The Index has deteriorated the most among people aged 25 – 54 and consumers living in rural areas. Negative information concerning the condition of the Polish economy as well as forecasts on household spending have actually resulted in the decrease in consumer moods occurring in such diversified groups as managers and the unemployed.
However, it has to be kept in mind that 2016 has seen the TNS Consumer Index move into the positive values range for the first time since the world economic crisis in 2008, and negative news are now sometimes balanced by positive information. For these reasons the upcoming year is certainly going to be full of surprising changes in the moods of various groups of Polish consumers.
I would like to wish to all our readers a lot of rest, joy, peace, an all the best for this Christmas!
Client Service Director