New Monthly Enterprises Survey №50, June 2026 (abridged)

The 50th New Monthly Enterprises Survey (NRES), conducted by the Institute for Economic Research and Policy Consulting (IER) in June 2026, showed a moderate improvement in business sentiment after two consecutive months of deterioration. Although the Business Activity Recovery Index remains negative, enterprises are increasingly reporting greater stability in their operations, higher capacity utilization, and a gradual decline in uncertainty about the future.

Key results of the survey:

• The Business Activity Recovery Index improved in June, rising to -0.14 from -0.17 in May, although it remains in negative territory.
• 85.6% of enterprises that were able to assess their prospects two years ahead do not plan any changes to their operations.
• The share of enterprises operating at full or near-full capacity increased from 57% to 63%, indicating a gradual recovery in production activity.
• Long-term uncertainty continues to decline: the share of businesses that find it difficult to forecast their activity two years ahead fell from 43.5% to 38.2%.
• The average order backlog increased from 2.4 to 2.8 months, pointing to improved expectations for future demand.

Overall, the survey results point to a gradual stabilization of economic conditions for industrial enterprises, although businesses continue to operate amid high uncertainty and persistent wartime risks.