New Monthly Enterprises Survey №48, April 2026

In April 2026, Ukraine’s business sector continued to show operational resilience. However, medium-term expectations softened as the recovery lost momentum and pressures from the labour market and inflation intensified.

1. In April 2026, Ukraine’s business sector continued to demonstrate operational resilience, although medium-term expectations weakened amid a slower recovery rate and increasing pressure from the labor market and rising prices.
2. Long-term uncertainty decreased slightly. At the same time, businesses’ long-term expectations improved, breaking a two-month trend of gradual deterioration.
3. Medium-term uncertainty increased for the second consecutive month, both regarding the overall economic environment and the business activity at enterprises. At the same time, six-month business expectations deteriorated significantly after several months of relative stability.
4. Year-on-year recovery dynamics weakened considerably following three months of stability. Enterprise performance indicators (month-over-month) increased for the second consecutive month. However, short-term expectations interrupted a three-month upward trend.
5. Businesses expect a substantial slowdown in price growth over the next three to four months. At the same time, the significance of rising prices as an obstacle to business activity increased markedly.
6. A sharp decline in the number of workers and the number of workers on forced leave is expected over the next three to four months.
7. Businesses also reported growing difficulties in finding skilled personnel.
8. Labor shortages, work hazards associated with operating during wartime, and rising prices remain the leading obstacles to business activity. According to business assessments, problems related to electricity supply continue to ease.