Pie: Consumption of GDP growth in the coming quarters

In the upcoming quarters, private consumption will be an important element of GDP growth – PIE economists believe. In their opinion, this is indicated by growing real income, solid sales results and a clear improvement in moods.

“The combination of growing real income, solid sales results and a clear improvement in moods indicates that in the upcoming quarters, private consumption will be an important element of GDP growth, even if its import -consuming nature limits part of the benefits for domestic production,” reads “Pie's Tygodnik Pie” published on Thursday.

They reminded that the last detail data signal a permanent reflection. In July, she was reported by a 4.8 percent increase. Economists of PIE emphasized that this is one of the better readings in recent years.

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“This is partly the result of a more favorable calendar factor, but the data in average shows a persistent moderate upward trend. After turning off the most variable categories (cars, food, fuel), the sales dynamics of R/R reached over 7.5 percent – at most from the beginning of the year. The sale of durable goods: clothing and footwear – by 14.7 % accelerated. RTV/household appliances – by 15.3 percent.

Economists of the Polish Economic Institute estimate that private consumption in the second half of the year will probably maintain dynamics above 3 percent. in an annual basis. They also believe that the role of consumption in stabilizing economic growth “will be important”.

“Consumer mood strengthens the image of improvement. In August the current indicator of consumer trust (BWUK) increased m/MO 1.9 points to -12.1, and ahead of (WWUK) by 1.4 points to -6.3. Most components clearly improved the quotations: the assessment of the future situation of the country, the possibility of making important purchases and their own financial situation. This can be seen in the detailed answers: as many as 43.9 percent of the respondents believe that now there is a good time for important shopping (39.5 percent a year earlier), and a larger percentage also indicates a good time for saving, “reads” Tygodnik Gospodarczy Pie “. (PAP)

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