Russian Business Recorded Improvements in August 2020

The business climate in Russia improved in August 2020. The composite index of the Russian Union of Industrialists and Entrepreneurs (RSPP) rose to 44.3 points, although in April (at the height of the pandemic) it was 34.6 points, Izvestia reports with reference to the study conducted by the union.  

In August, the consolidated RSPP index maintained positive dynamics for the second month in a row, which follows from a regular survey of 100 large and medium-sized businesses. Its value was slightly more than the March indicators (43.7) but significantly higher than in April (34.6). However, 25.6% of those surveyed said that the business climate was worsening. Their pessimism was mostly shown in assessing the financial situation of companies (38.4% of enterprises reported a deterioration in their financial well-being).

It is noted that over August, almost all components of the index showed growth. In particular, the values ​​of indicators of the market for manufactured products, demand in the industry, sales prices, the level of competition, and the B2B (business to business) segment increased. Negative results were noted in terms of “stocks” and “purchase prices”.

According to the index of personal assessments of the state of the business climate, the majority of entrepreneurs (67.4%) believe that the situation on the market has not changed, and more than half (54.7%) of the respondents answered that the financial condition of their enterprises has not changed.

Ru-Main, 08.09.2020 

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