In November 2025, the total business climate indicator preserves its October level (16.1%). A reduction of the indicator is observed in the industry, construction and service sector, as only in the retail trade an improvement is reported.
The composite indicator ‘business climate in industry’ decreases by 0.9 percentage points (from 15.5% to 14.6%), which is due to the more reserved industrial entrepreneurs’ assessments and expectations about the business situation of the enterprises. The inquiry registers certain increase of the production assurance with orders (Figure 3), but this is not accompanied by increased expectations about the production activity over the next 3 months.
The most serious difficulties for the activity of the enterprises remain the uncertain economic environment and the shortage of labour, followed by the insufficient domestic demand and insufficient foreign demand.
The managers’ forecasts concerning the selling prices in the industry over the next 3 months continue to be in a direction of an increase.
In November, the composite indicator ‘business climate in construction’ drops by 6.3 percentage points (from 19.6% to 13.3%) as a result of the pessimistic construction entrepreneurs’ assessments and expectations about the business situation of the enterprises. In their opinion, the present construction activity is unfavourable and their forecasts over the next 3 months are worsened.
The uncertain economic environment, the shortage of labour and the costs of materials continue to be the main obstacles for the business development, as in the last month strengthening of the negative impact of the first and third factor is observed.
In comparison with the previous month, the share of construction entrepreneurs’ who foresee the selling prices to increase over the next 3 months is raised.
Retail trade. The composite indicator ‘business climate in retail trade’ increases by 9.7 percentage points (from 20.2% to 29.9%), which is due to the optimistic retailers’ assessments and expectations about the business situation of the enterprises. Their opinions about the volume of sales over the last 3 months, as well their expectations over the next 3 months are also improved.
In the last month an increase of the negative influence of the factor ‘uncertain economic environment’ is observed, which shifts to the second place the competition in the branch. In the background remain the insufficient demand and the shortage of labour.
The retailers’ expectations concerning the selling prices over the next 3 months are in a direction of an increase.
Service sector[ In November, the composite indicator ‘business climate in service sector’ decreases by 1.7 percentage points (from 9.8% to 8.1%) as a result of the worsened managers’ expectations about the business situation of the enterprises over the next 6 months. In regard to the demand for services, the present tendency is assessed as reduced, as the expectations over the next 3 months are also more reserved.
The uncertain economic environment, the competition in the branch and the shortage of labour continue to be the main problems for the business development.
Concerning the selling prices in the service sector, the managers foresee certain increase over the next 3 months.
