Ipsos: consumer moods sour in August

2010-09-06

The Consumer Confidence Index (CCI) slumped by 4.2 points in August to stand at 92.6, more than reversing its gain from July, according to research conducted by Ipsos.
The decrease in the index was thanks chiefly to a sharp decline in assessments of the economic climate, which fell by 10.1 points to 80.7. At the same time, the willingness to buy indicator shed only 0.2 points and dropped to 100.5.
Ipsos attributed these changes to a dampening in consumer optimism over the economic outlook, which could in turn be a consequence of the planned hike in VAT. Accompanying Ipsos research showed a marked rise in concerns about unemployment and higher inflation over this period, and a seven-point increase in the percentage of respondents expecting the domestic economic situation to deteriorate over the next 12 months.
The CCI index is measured on a scale from 0 to 200. The research was carried out between 6 and 16 August 2010 on a representative random-quota sample of 1,003 Poles aged 15 and above.