The Central Bank of Russia published its December business monitoring update, showing that moderate expansion in business activity continues but eased from the prior month. The Business Climate Index declined to 2.7 points in December from 3.4 points in November. Compared with November, companies reported more moderate assessments of current output and demand and more cautious short-term expectations. At the same time, businesses’ price expectations rose for the third consecutive month and remained elevated, with additional detail provided in the December issue of Monitoring of Businesses: Assessments, Expectations and Comments.
Central Bank of Russia 2025-12-22
Central Bank of Russia reports slower but continued expansion in business activity as price expectations remain elevated
The Central Bank of Russia's December business monitoring update indicates a moderate expansion in business activity, with the Business Climate Index falling to 2.7 points from 3.4 in November. Companies reported more moderate assessments of output and demand, alongside rising price expectations for the third consecutive month.