In November 2022, the total business climate indicator increased by 3.5% month-on-month, the National Statistical Institute reported on Tuesday. The indicator grew in all observed sectors – industry, construction, retail trade, and services.
The composite indicator business climate in industry increased by 0.8%, due to the more favourable industrial entrepreneurs’ assessments and expectations about the business situation of the enterprises. Their forecasts about the production activity over the next three months also improved. The uncertain economic environment and shortage of labour remain the main obstacles for the activity of the enterprises.
In November, business climate in construction’ increased by 2.2%. The construction entrepreneurs’ assessments of the present business situation of enterprises improved, as their expectations for the next 6 months were favourable.
Business climate in retail trade increased by 8.7%, due to the optimistic retailers’ assessments and expectations about the business situation of the enterprises. The main factors limiting the activity in the sector remain the uncertain economic environment, competition in the branch and insufficient demand, as in the last month strengthening of their negative impact was observed.
In November, business climate in the service sector increased by 5.3 percentage points as a result of the favourable managers’ assessments and expectations about the business situation of enterprises.