Businesses have reported positive assessments of their activities across all sectors.

According to the NBU, in May businesses delivered positive evaluations of their own economic performance. For the first time since May 2024, enterprises from all sectors anticipated growth. In May 2025, the business activity expectations index was 50.8, compared to 49.4 in April 2025, and was higher than the level recorded in May 2024 (48).

The following factors positively influenced enterprise expectations:

1. vibrant consumer demand
2. stable conditions in the energy sector
3. receipt of international financial aid
4. seasonal influences

However, expectations were tempered by:

1. increased shelling of critical facilities
2. concerns regarding the exchange rate and inflation
3. a significant shortage of skilled workers