Business expectations deteriorate for third consecutive quarter in Q4 2025 – Ukraine’s National Bank survey

The Business Expectations Index (BEI) of enterprises declined for the third consecutive quarter in the fourth quarter of 2025, to 102.1% from 102.5% in the third quarter, 103.1% in the second quarter, and 108.2% in the first quarter. At the same time, the index remained above the level recorded in the same period of 2024, at 101.8%, the National Bank of Ukraine (NBU) reported following its business survey.