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Business worsens assessment of prospects in Sept, but keeps it above neutral level – NBU
KYIV. Oct 4 (Interfax-Ukraine) – The National Bank of Ukraine’s (NBU) monthly Business Activity Outlook Index (BAOI) fell to 53.1 in September from 53.4 in August, but remained above neutral, according to the results of a corporate survey conducted by the central bank.
"In September, businesses remained upbeat about their performance outlook on the back of robust consumer demand, a favorable external environment, and ongoing growth in investment activity," the National Bank said on its website.
Thus, industrial enterprises downgraded their estimates to 52.8 from 54.3 in August. As in previous months, respondents expected an increase in the amount of manufactured goods and the number of new orders for products, including export orders.
According to the survey, service enterprises also worsened their estimates of their economic performance: the sector index fell to 51.8 in September from 54.1 in August. Respondents continued to expect an increase in the amount of services provided, the number of new orders, and the amount of services that are being provided.
As reported, in September, the sector index of construction enterprises fell to 51.6 from 53 in August. Respondents expressed positive, albeit slightly guarded views, about construction volumes and the number of new orders, expecting as a result a slight decrease in purchases of raw materials and supplies.
In addition, the sector index of trading companies in September rose to 56.1 from 51.1 in August. Respondents markedly upgraded their expectations of trade turnover and the amount of goods purchased for sale.
According to the report, companies across all sectors reported intentions to raise their selling prices further amid strong expectations of higher raw material and supplies prices. At the same time, only trading companies said they intended to hire more staff, while industrial, construction and services companies reported intentions to cut their workforces.
The monthly survey was conducted from September 6 to September 23, 2021. A total of 324 enterprises were polled. Of the companies polled, 42.9% are industrial companies, 29.3% companies in the services sector, 21.9% trading companies, and 5.9% construction companies; 37.0% of the respondents are large companies, 30.2% medium companies, and 32.7% small companies.
