Impact of Economic Slowdown in Poland in 2009-2011 on Food Consumption Cover Image

Wpływ spowolnienia gospodarczego w Polsce w latach 2009-2011 na konsumpcję żywności
Impact of Economic Slowdown in Poland in 2009-2011 on Food Consumption

Author(s): Krystyna Świetlik
Subject(s): Supranational / Global Economy, Demography and human biology, Transformation Period (1990 - 2010), Present Times (2010 - today), Financial Markets, Socio-Economic Research
Published by: Instytut Badań Rynku, Konsumpcji i Koniunktur
Keywords: economic growth; individual consumption; incomes of population; households’ budgets; food expenditure; food retail sale; food consumption;

Summary/Abstract: Turbulences in the global financial markets that began in the mid-2008, the global recession and debt crisis of the Eurozone states led to a significant weakening of activity of the global economy what also affected the economy of Poland. In 2009-2011, a significant slowdown was observed in the rate of growth of the Polish GDP and population’s disposable incomes. The CSO national accounts show that the growth of individual consumption in the sector of households was twice lower than in the years 2006-2008, with stagnation of food consumption. Household budgets surveys indicate a drop in real expenditure on food in all groups of households. The negative trends in development of demand for food in the recent years are confirmed by the sales statistics. The main factors depreciating demand for food in the years 2009-2011 were: the low rate of growth of wages and salaries, difficult situation in the labour market, real rise in prices for food, change of the structure of living costs and growth of demand for non-food goods and services.

  • Issue Year: 2012
  • Issue No: 4
  • Page Range: 5-16
  • Page Count: 12
  • Language: Polish