Statistics: Russia’s July business confidence rises in extraction

MOSCOW, Jul 25 (PRIME) -- The Russia’s business confidence index increased 9 percentage points in July to 2% compared with December 2016 in the mineral extraction industry, the Federal State Statistics Service said in a statement on Monday citing a poll of more than 3,000 companies.

“The business confidence index, which reflects generalized entrepreneurs’ behavior, increased to 2% in July 2017 from minus 7% in December 2016 in the mineral extraction sector, and to minus 1% from minus 8% in the processing industry, but fell to minus 3% from 6% in provision of power, gas and steam, and in air conditioning,” the statement read.

The economic situation in a company was deemed positive by 11% of managers and satisfactory by 73% 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 4 percentage points in the mineral extraction and by 6 percentage points in the processing industry.

Improvement of the situation in the mineral extraction industry in the next six months was expected by 27% of respondents, 19 percentage points more than the number of respondents forecasting a worse situation. The number of optimists in the processing sector stood at 30% of respondents, 24 percentage points more than the amount of pessimists.

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