Jacek Jankiewicz,

Department of Microeconomics,

Faculty of Management,

Poznan University of Economics,

Poznań, Poland,

E-mail: jacek.jankiewicz@ue.poznan.pl

The Level of Wealth

and the Financial Condition of Households in Relation

to the Results of Consumer Surveys

ABSTRACT. It is assumed in this article that the prognostic value of qualitative indicators of consumer sentiment depends, to a large extent, on changes to consumers' wealth, which is connected with the situation in the labour market. Therefore, the main aim of the analysis is to verify the relationship of consumer survey results with the level of wealth and the financial condition of households. It is assumed that the predictive power of individual indicators of consumer opinions regarding the development of consumption is indirect, describing, among other things, the earning activities of the respondents. The calculations, which took into account time lags, econometric causality, and the construction of models of stepwise regression, indicate that Polish respondents evaluate their wealth and the economic condition of the country from the perspective of the situation in the labour market.

Received: June, 2014

1st Revision: September, 2014

Accepted: October, 2014

DOI:10.14254/2071-789X.2014/7-3/9

JEL Classification:D10, D12, E27

Keywords: consumer opinion, individual indicators, forecasting consumption.