In October 2025, the total business climate indicator decreases by 4.7 percentage points compared to the previous month (from 20.8% to 16.1%), as a reduction of the indicator is registered in all observed sectors - industry, construction, retail trade and services.
Industry. The composite indicator ‘business climate in industry’ decreases by 3.3 percentage points (from 18.8% to 15.5%) as a result of the unfavourable industrial entrepreneurs’ assessments and expectations about the business situation of the enterprises. Their opinions about the orders inflow over the last 3 months are also negative, which is also accompanied by decreased expectations about the production activity over the next 3 months. At the same time, in October the average capacity utilization in industry increases by 0.3 percentage points in comparison with July and reaches 75.4%. The uncertain economic environment and shortage of labour continue to be the main obstacles for the business development, as in the last month strengthening of the negative influence of the factors ‘insufficient foreign demand’ and ‘insufficient domestic demand’ is observed. Regarding the selling prices in the industry, the managers foresee certain increase over the next 3 months.
Construction. In October, the composite indicator ‘business climate in construction’ decreases by 3.0 percentage points (from 22.6% to 19.6%), which is due to the worsened construction entrepreneurs’ assessments and expectations about the business situation of the enterprises. According to them, in the next half year, a slight decrease of the new orders is expected, which will also lead to contraction of the activity in the short term. The most serious difficulties for the activity of the enterprises remain the uncertain economic environment, shortage of labour and costs of materials. Concerning the selling prices in the construction, the majority of the managers’ expectations are them to preserve their level over the next 3 months.
Retail trade. The composite indicator ‘business climate in retail trade’ drops by 9.6 percentage points (from 29.8% to 20.2%) as a result of the shifting of the retailers’ assessments and expectations about the business situation of the enterprises from ‘better’ towards preserving ‘the same’. Their assessments about the volume of sales over the last 3 months are improved, while their forecasts over the next 3 months are unfavourable. The main problems for the business development continue to be the competition in the branch, uncertain economic environment, insufficient demand and shortage of labour. The retailers do not foresee a change in the selling prices over the next 3 months.
Service sector. In October, the composite indicator ‘business climate in service sector’ decreases by 4.5 percentage points (from 14.3% to 9.8%), which is due to the reserved managers’ assessments and expectations about the business situation of the enterprises. Their opinions about the present demand for services are unfavourable, while in their forecasts over the next 3 months certain optimism is observed. The factors, limiting with most extend the activity of the enterprises are the uncertain economic environment, competition in the branch and shortage of labour, as in the last month strengthening of their negative impact is reported. Concerning the selling prices in the service sector, the managers’ forecasts are them to preserve their level over the next 3 months.
