Businesses positively evaluated their activities for the first time in five months – NBU

In March, the business assessed its current performance as positive after five months of negative expectations. This is stated in the monthly survey of the Ukrainian enterprise for March 2024, the press service of the National Bank reports.

The Business Activity Expectations Index (BIED) increased from 47.5 to 52.0 points, exceeding the neutral level (50 points).

The NBU noted that the improvement in the sentiment of respondents in all sectors was facilitated by the increase in sea and rail transportation, the maintenance of a stable situation in the foreign exchange market, low inflation expectations and a period of revival of business activity.

At the same time, the increasing shelling of critical targets, the risk of insufficient international funding and the blockade of the western border remain limiting factors.

Employment estimates improved slightly but remained mixed, according to the survey. While managers of construction and trade enterprises focused on a slight increase in the number of employees, respondents from industry and the service sector continued to expect reductions in staff.

The monthly survey of businesses was conducted from March 4 to March 21. 456 businesses participated in the survey. The results of the survey reflect only the opinion of the respondents – business managers, and not the assessments of the National Bank of Ukraine.

We remind you that Prime Minister Denis Shmygal said that over the past year, GDP in Ukraine grew by 5.6%. By 2024, the government expects 5% growth in Ukraine’s GDP.

At the end of January of the new year, the Ukrainian economy grew by 3.5% compared to January 2023. In the first month of the new year, all major sectors of the economy showed positive dynamics.