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High growth rate of private consumption to remain stable


In our opinion, the current situation on the labour market (i.e. strong increase of employment and wages) favours maintenance of a high growth rate of private consumption in the coming quarters. On the other hand, prospects of impaired economic conditions and growing concerns regarding an increase in unemployment may prevent Poles from making important purchase decisions. A factor limiting propensity to buy can be also accelerating inflation, and in particular high increase in prices of food and fuels. Having this in mind, we expect that in H2 private consumption will rise by over 5% y-o-y, remaining one of the main factors driving the economy.

Paweł Sionko
Construction Market Analyst, PMR

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