The Business Expectations Activity Index (BAEI) decreased to 47.2 points in November, compared to 49.4 in October and 48.7 in September, the National Bank reported. The following factors had a negative impact on economic activity in November: ️intensification of hostilities; ️power outages due to Russian attacks on the energy system; increased costs for energy, labor, and logistics; accelerating inflation; ️significant shortage of qualified personnel; ️seasonal factors.
Only trade enterprises positively assessed their business activity: the sectoral index in November decreased to 51.4 (October – 51.9). Industrial enterprises weakened their assessments of economic prospects: the sectoral index was 46.7 (October – 49.8). The most pessimistic assessments of their current financial results were recorded among construction companies: the sectoral index fell to 43.6 (October – 49.6).
The situation in the labor market remains challenging. Therefore, respondents from all surveyed sectors expect a reduction in personnel, most significantly in the service sector.