The Central Bank of Russia published its July Monitoring of Businesses commentary, showing that growth in business activity slowed as the Business Climate Index declined to 1.5 points from 3.0 points the previous month. Current estimates of output and demand, along with short-term expectations, were lower than in June. Business price expectations edged up after a six-month decline, while companies’ investment activity continued to grow but at a slower pace than in 2025 Q2. Starting with this issue, the central bank will regularly publish monitoring indicators by macro region, and has made time series survey results by economic activity and business group available through the Official Statistics Retrieval Service (API).
Central Bank of Russia 2025-07-16
Central Bank of Russia reports Business Climate Index fall to 1.5 points in July and expands business monitoring data access
The Central Bank of Russia's July Monitoring of Businesses commentary shows a slowdown in business activity, with the Business Climate Index dropping to 1.5 points from 3.0 in June. Output, demand, and short-term expectations have decreased, while business price expectations have risen. The central bank will now regularly publish monitoring indicators by macro region and provide time series survey results via its Official Statistics Retrieval Service.