New Monthly Enterprises Survey №52, August 2026 (abridged)

The New Monthly Enterprises Survey №52, conducted by the Institute for Economic Research and Policy Consulting (IER) in August 2026, found that the recovery in business activity had slowed, while business expectations had deteriorated across the short-, medium- and long-term horizons. At the same time, enterprises continue to operate amid labour shortages and security risks, while expectations of rising prices have strengthened.

Key findings of the survey:

• The Business Activity Recovery Index deteriorated to -0.16 in August.
• The share of businesses operating at near-full or full capacity fell from 64% to 61%.
• Among businesses able to assess their prospects two years ahead, the share of optimists declined, while the share of pessimists increased.
• The average duration of new orders in the order book shortened from 2.9 to 2.6 months.
• The business community’s main expectation is the “end of the war”, which is important for 85% of businesses.

Overall, the August survey shows that Ukrainian businesses remain resilient, but the recovery in business activity has slowed. Deteriorating expectations, labour shortages, security risks and stronger price pressures continue to pose significant challenges to further business growth.

More analysis is available in The New Monthly Enterprises Survey №52 below.