Ukrainian businesses gave a cautious assessment of their economic performance in October. Activity was held back by intensified attacks on energy, production, warehouse and logistics infrastructure, renewed power cuts, higher fuel costs, export restrictions caused by port blockades and a shortage of skilled workers. Steady consumer demand, a strong harvest, adequate goods supply and new logistics routes provided support.
The business activity expectations index calculated monthly by the National Bank of Ukraine stood at 47.1 in October 2026, down from 48.2 in September. It was 50.3 in October 2025. A reading of 50 is neutral; a lower value indicates negative expectations.
The industrial index fell to 48.0 from 51.0 in September. The construction index was 38.5, while trade stood at 46.8 and services at 47.4. Construction companies expected a substantial decline in activity, new orders and purchases of raw materials.
