Polish Consumer Morale Improves in May

Poland’s consumer sentiment indicator rose to -9.9 in June 2026 from -11.3 in the previous month, reflecting an improvement in households' assessment of both current and future economic conditions. The increase was mainly driven by stronger expectations regarding the country's future economic situation (-17.4 vs -20.9 in May) and as well as while assessments of the past 12 months also improved (-20.7 vs -23.5). Consumers also reported improved expectations for their household finances over the next 12 months (-1.9 vs -3.0) and slightly better conditions for making major purchases (-3.3 vs -3.6). However, assessments of current household finances deteriorated slightly (-6.3 vs -5.7). Meanwhile, the leading consumer confidence indicator rose to -7.7 from -8.5, supported by improved expectations for the economy, household finances, and unemployment. Despite the improvement, both consumer confidence indicators remained below their levels from a year earlier.

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.