Become a member of the UCCI
The Business Barometer Shows Initial Signs of Stabilization After a Prolonged Period of Negative Expectations.
In August 2024, the overall Business Barometer Index rose to 40.8 points, up by 0.8 points compared to July 2024.
After four months of increasing negative expectations, there are signs of stabilization. Significant improvement has been recorded in the construction sector (57.8 points, ⇧+5.3).
The trade sector saw a marked decrease in negative expectations (47.0 points, ⇧+12.2), while the manufacturing sector noted gradual improvement (38.5 points, ⇧+1.7).
The most challenging situation persists in the services sector (38.0 points, ⇩-8.2).
Positive expectations are observed only among large enterprises (52.9 points, ⇧+4.2).
Micro, small, and medium-sized businesses exhibit a more cautious outlook on the future, as reflected in Barometer values not exceeding 41 points.
Exporters also show a slight easing of pessimistic sentiments (37.8 points, ⇧+0.5).
Hot Issue “Are you ready to join the ‘Voluntary Tax Compliance Club’ (Draft Law #11084)”
The survey results reflect a mixed perception of the idea of joining the “Voluntary Tax Compliance Club.” A majority of respondents (41%) admitted they are not familiar with the details of Draft Law #11084, indicating a lack of public awareness about the initiative.
Among those who have an opinion, approximately 19% view participation in the “club” positively, believing the benefits to be substantial. Meanwhile, 16% of respondents are willing to join but only under certain conditions, highlighting the importance of clear criteria and transparency in the membership process.
A smaller portion of respondents (13%) are skeptical about the idea, suggesting that the “club” might be intended for a select group, which could create a sense of inequality. Finally, 11% of respondents advocate for equal conditions for everyone, reflecting a desire for fairness and the avoidance of privileges for specific groups.
Monthly, in addition to the regular survey, respondents can answer the “hot” question of the month and contact the hot line of the Ukrainian Chamber of Commerce and Industry.
The survey is conducted in verified chatbots on Telegram and Viber and takes only 2 minutes.
The August 2024 report is available here.
The Business Barometer from the Ukrainian Chamber of Commerce and Industry (UCCI) represents the perspectives of enterprises and entrepreneurs who are members and partners of the UCCI.
It reflects expectations for changes in the business environment in the coming month compared to the previous one.
Based on a survey that considers the status of indicators (or "sub-indices") of the respondents' activities across four sectors (manufacturing, construction, trade, services), the Business Barometer is tailored to meet the needs of the members and partners of the Ukrainian Chamber of Commerce and Industry. A distinctive feature of the Business Barometer is the inclusion of specialized industry questions and an analysis of export conditions, which provides additional insights into market conditions.
* - Extra questions that are not considered in the calculation of the Business Barometer.
The Business Barometer is calculated using the PMI methodology (Purchasing Manager Index):
PMI = (P1 * 1) + (P2 * 0,5) + (P3 * 0)
where:
P1 = % of responses indicating an improvement
P2 = % of responses indicating no change
P3 = % of responses indicating a deterioration
A value above 50 signifies growth or expansion in the economic sector compared to the previous month.
A value below 50 indicates a contraction.
A value of 50 indicates that there is no change compared to the previous month.
Attention! The indicators "Purchasing Prices" and " Unfulfilled Order Volume/Inventory Levels" are considered deterrents and are interpreted inversely in the calculation.
To detail the provided responses, a 5-point scale is used (will decrease – likely to decrease – no change – likely to increase – will increase).
For calculating the Business Barometer indicator, a 3-point scale is applied, and responses are summed up as follows:
