in March, the estimates of production and demand of Russian enterprises improved

MOSCOW, March 20 (Reuters) – The Bank of Russia’s business climate index rose to 6.9 in March’s corporate survey from 4.7 in February’s survey.

“The business climate indicator is growing for the second month in a row thanks to the improvement in the assessment of the current economic situation and the expectations of enterprises for the next three months,” the CBR reported.

The Central Bank decided on Friday to keep the main interest rate at 7.50%, at which it has remained since September 2022, as the pattern of pro-inflationary risks has not changed much since the previous meeting, and operational data indicate a recovery in economic activity.

The Central Bank, when making interest rate decisions, is guided by data from its own survey of 13.6 thousand. enterprises, which has been publishing monthly since May.

The March survey by the Central Bank showed that short-term expectations in the manufacturing sector have generally improved, most notably in transport and storage.

“Business expectations for demand have improved in almost all major industries, with the exception of mining and wholesale,” the study said.

Business price expectations have increased, especially in retail, CBR said. (Elena’s Factory)

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