Monitoring businesses: economic activity continues to grow at moderate pace

The indicator’s decline was due to companies’ more subdued expectations for the next three months than in December 2025. However, current output and demand estimates of companies exceeded the December values. Business price expectations rose for the fourth month in a row, remaining elevated.

As estimated by companies, the growth in investment activity in 2025 Q4 was the largest for the year as a whole. Capacity utilisation in 2025 Q4 significantly exceeded the 2017–2019 levels.

More details are available in the new issue of the information and analytical commentary Monitoring of Businesses: Assessments, Expectations and Comments.