The Central Bank of Russia published its April Monitoring of Businesses commentary, showing that business activity continued to expand. Its Business Climate Index rose to 4.8 points in April from 4.7 in March, while firms reported a more moderate assessment of current conditions but improved short-term expectations. Companies’ price expectations declined but remained elevated. Investment activity increased in the first quarter, although growth was more moderate than in the previous quarter and compared with the 2024 average. The April commentary also, for the first time, includes results from new questionnaire items covering difficulties hampering companies’ current operations and expectations of rising labour costs, with these data to be published quarterly going forward.
Central Bank of Russia 2025-04-16
Central Bank of Russia reports rising business activity in April and adds new survey questions on operational difficulties and labour cost expectations
The Central Bank of Russia's April Monitoring of Businesses commentary indicates continued expansion in business activity, with the Business Climate Index rising to 4.8 points. Companies reported improved short-term expectations despite a moderate assessment of current conditions and elevated price expectations. The commentary introduces new quarterly data on operational difficulties and anticipated labour cost increases.