For the first time in 11 months, businesses have report positive expectations for their activities.

In March, the Business Activity Expectations Index (BAEI) surpassed the neutral level for the first time in 11 months, registering at 51.8 compared to 46.9 in February 2025 (and 52 in March 2024). The key factors driving this positive shift in expectations included stable consumer demand, increased production, receipt of international financial assistance, energy supply stabilization, and seasonal influences. The trade sector emerged as the most optimistic, with an index of 54, while industry reported an index of 53.1 and construction an index of 52.9. The services sector was the most cautious, with an index of 48.8.

“The surveyed industrial and service enterprises have lowered their expectations regarding the increase in purchase prices, as well as the prices and tariffs for their own products and services, while construction and trade companies retain high expectations for price increases,” noted the NBU.

Simultaneously, employment expectations have improved: construction is adding staff, industry is nearing a neutral level, and only a slight reduction in employee numbers is anticipated in trade and services.