Statistics: Russia’s August business confidence rises in extraction

MOSCOW, Aug 24 (PRIME) -- Russia’s business confidence index increased in the upstream and downstream industries, the Federal State Statistics Service said in a statement on Friday citing a poll of 3,800 companies.

“The business confidence index, which reflects generalized entrepreneurs’ behavior, increased to 0% in August from minus 2% in December 2017 in the extraction sector, and to minus 3% from minus 5% in the processing industry, but fell to 2% from 3% in provision of power, gas and steam, and in air conditioning,” the statement read.

The economic situation in a company was seen as positive by 13% of managers and satisfactory by 75% of managers in the mineral extraction sector, while the figures for the processing industry stood at 10% and 74%, respectively. The amount of people seeing the current economic situation as bad exceeded the amount of optimists by 2 percentage points in the mineral extraction and by 5 percentage points in the processing industry.

Improvement of the situation in the mineral extraction industry in the next six months was expected by 20% of respondents, 15 percentage points more than the number of respondents forecasting a worse situation. The number of optimists in the processing sector stood at 27% of respondents, 20 percentage points more than the amount of pessimists.

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