The propensity of Polish households to consume and save within the context of the COVID-19 pandemic

Abstract

The aim of this paper is to analyse changes in the propensity to consume and to save in Polish households by means of qualitative indicators of consumer sentiment. The available data made it possible to observe the evolution in attitudes over the course of more than 20 years in Poland including the period of COVID-19 pandemic. The presented results also include an analysis of the changes in the level of household uncertainty, which can be observed in the assessments and forecasts of both their own financial situation and the country’s economic condition. Taking into account the fact that consumer demand is the most important element of GDP, the obtained results do not indicate a quick return of the Polish economy to a path of dynamic growth. Among households, not only has the willingness to buy durable goods decreased, but at the same time, the uncertainty related to their own financial situation has grown.