Poland's individual consumption declines – NBP
February 19, 2013
Poland's individual consumption fell by some 0.9% in Q4 and will likely fall in Q1 2013, central bank NBP wrote in a report on the situation of households.
"Economic Institute's estimates implied from the Central Statistical Office (GUS) data for FY 2012 suggest that individual consumption growth rate in Q4 was negative and measured -0.9% y/y," the report read. "We should also expect a further decline in y/y terms in the following quarter."
Longer-term prospects for private consumption also remain subdued, the report said.
"Deteriorating negative consumer moods and weak prospects for income increases suggest the low growth rate of private consumption should hold in coming quarters," NBP said.