“For the first time in a year, business positively assesses its prospects in all four sectors – NBUIn May 2025, business resumed positive assessments of economic activity in all sectors. The business expectations index rose to
50.8 thanks to demand and financial assistance.”, — write: unn.ua
Details”In May, business resumed positive assessments of the results of its own economic activity. For the first time since May 2024, growth was expected by enterprises of all sectors participating in the surveys of the National Bank,” the statement said.
The Business Expectations Index (BEI) in May 2025 was 50.8 compared to 49.4 in April 2025 and was higher than the level in May 2024 (48.0).
What influencedLively consumer demand, a stable situation in the energy sector, the receipt of international financial assistance, as well as a seasonal factor, as indicated, positively influenced the expectations of enterprises. At the same time, the restraining factors remained the intensification of shelling of critical facilities, exchange rate and inflationary expectations, and a shortage of qualified personnel.
By industryConstruction companies most optimistically assessed their current economic results thanks to stable domestic demand and a seasonal factor. Builders significantly strengthened positive expectations regarding the increase in the volume of construction, new orders, procurement of raw materials and materials. Despite the increasing rate of growth in the cost of contractors’ services, respondents expected a significant increase in the volume of procurement of their services and somewhat softened assessments of their availability.
Industrial enterprises for the fourth consecutive month gave positive assessments of the results of their activities due to lively consumer sentiment and a stable situation in the energy sector. Respondents maintained optimistic sentiments regarding the volume of manufactured products and the volume of new orders for products and expected the volume of new export orders at the level of the previous month. Instead, pessimistic assessments remained regarding the volume of work in progress, stocks of raw materials and materials, as well as stocks of finished products.
Trade enterprises for the third consecutive month maintained positive assessments of the results of their current activities. Trading companies were less confident in expecting an increase in trade turnover, weakened assessments of the volume of purchases of goods for sale, and were also set to reduce stocks of goods for sale. Respondents, as before, expected a decrease in the trade margin.
Service sector enterprises for the first time since May 2024 optimistically assessed the results of their current activities thanks to the налагодженню of logistics chains, as well as the оживленню of demand. Respondents were настроєні to increase the volume of services provided, new orders and services in the process of execution.
Expectations regarding prices and employmentAgainst the background of the expected slowdown in the growth rate of purchase prices, the surveyed enterprises of industry, trade and services were настроєні to a more moderate increase in purchase prices, as well as prices / tariffs for their own products / services, while construction companies expected a slight acceleration.
Assessments regarding employment remained heterogeneous. Construction companies were настроєні to increase the number of personnel. Instead, managers of enterprises in other sectors expected a decrease in the total number of employees.
ReferenceThe monthly survey of enterprises was conducted from May 5 to May 23, 2025. 565 enterprises took part in the survey. The results of the surveys reflect only the opinion of respondents – managers of enterprises, and not the assessments of the National Bank of Ukraine.