Polish Consumer Morale Improves in May

Poland’s consumer sentiment indicator rose to -11.3 in May 2026 from -14.1 in the previous month. Expectations regarding household financial conditions became less negative over the next 12 months (-3.0 vs -7.7 in April), while assessments of the past 12 months also improved (-5.7 vs -7.2). At the same time, the outlook for the economic situation became less pessimistic for both the coming year (-20.9 vs -23.8) and the previous year (-23.5 vs -28.4). Price expectations remained elevated, with past trends rising (54.3 vs 51.5) while expected inflation moderated (24.7 vs 29.4). The propensity to save increased to 14.8 from 13.2, while concerns about unemployment eased to -24.8 from -26.6. In contrast, views on current major purchases continued to decline (-3.6 vs -3.2). The leading consumer confidence indicator, tracking expected consumption trends, climbed by 2.7 percentage points to -8.5 in May 2026.

Poland’s consumer sentiment indicator fell to -14.1 in April 2026 from -12.2 in the previous month, marking its lowest level since May 2025. Assessments of the current economic situation worsened further (-28.4% vs -22.4% in March), while expectations for the future eased slightly but remained negative (-23.8 vs -24.1). Expectations on household finances also deteriorated for both the present (-7.2% vs -4.4%) and the year ahead (-7.7% vs -4.5%). Meanwhile, consumers’ perceived ability to make current major purchases was less negative (-3.2% vs -5.8). Among components outside the main index, concerns about unemployment worsened (-26.6 vs -23.1), while perceptions of price trends over the past 12 months increased (51.5 vs 50.7), but expectations for the next 12 months eased (29.4 vs 33.3). The leading consumer confidence indicator, which tracks expected consumption trends, also fell by 1.7 points to -11.2 in April.

Poland’s consumer sentiment indicator fell to -12.2 in March 2026 from -9.1 in February, well below market expectations of -9.5. Assessments of both the current (-22.4 vs -19.6) and future economic situation (-24.1 vs -13.9) worsened. Expectations for household financial conditions over the next twelve months also declined (-4.5 vs -2.4), alongside the perceived ability to make major purchases (-5.8 vs -4.2) and current money saving capacity (-3 vs -0.4). Meanwhile, the evaluation of households’ current financial situation (-4.4 vs -5.5) became less negative. Among components outside the main index, concerns about the unemployment rate eased (-23.1 vs -23.9), as did worries about price changes over the past 12 months (50.7 vs 53.3), while expectations for price trends over the next 12 months rose (33.3 vs 19.8). The leading consumer confidence indicator, tracking expected consumption trends, also declined 2.5 points to -9.5 in March 2026.