Monitoring businesses: Business Climate Index hits 12-year high
In May, the Bank of Russia's Business Climate Index (BCI) has increased to 11.1 points (vs 10.7 points in April), which is close to its highs over the past 12 years. Intensive growth of business activity continues. Businesses’ estimates of the current demand for products and their output are higher than in April. Expectations regarding these indicators for the next three months have edged down.
For the first time, the Bank of Russia publishes data on the BCI across small and micro enterprises, medium and large businesses. Business activity continues to grow in all groups.
Companies' price expectations have remained at the level of April and above the values typical for a period of inflation close to the target. Further details are available in the May issue of the information and analytical commentary Monitoring of Businesses: Assessments, Expectations and Comments.
IBK rose to 11.1 points (+0.4 points)
Current estimates of output and demand have improved markedly, with a slight decrease in expectations for the next three months.
Production: expectations fell to 17.7 points* (-0.8 points)
The expectations of enterprises for production, while maintaining a positive nature, in most industries were slightly lower than last month.
Current assessments of the business climate have reached their highest since 2008, exceeding the record level of the second quarter of 2023.
* Hereinafter, the values of the balance of answers are given taking into account seasonal adjustment, for more details see the material "Methodology of the Bank of Russia monitoring".
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