When the crisis broke out in September, the majority of indices showing the moods of households dived. In November, the percentage of people worrying about Poland’s future economic situation was 19 points higher than this representing optimists. Two months ago, the difference amounted to 9 percentage points only. The index showing the labor market situation changed even more. The number of Poles expecting the situation to deteriorate exceeds by 15.8 percent those who don’t fear this.
These are all the decreases, however. The index showing how prone the Poles are to save money, has remained nearly unchanged. It amounted to 35 percent in September and 36.4 percent in November.
“People fear the crisis but they don’t expect that it will hit themselves. They believe that others may lose their jobs, not them. Otherwise, there would be much fewer people believing that they will manage to save money”, Grzegorz Ogonek, INB Bank Slaski economist said.
This is good news for companies which may hope that despite economic crisis
the Poles will continue to spend money. However, economists warn that
consumption won’t be as high as it was in the firs half of the year when retail
sales dynamics amounted to 24 percent.