26%

of Russian industrial enterprises recorded a decline in profits in February compared to the previous month. This is the worst result recorded over the last four and a half years.

Financial misfortunes were accompanied by a strengthening of negative sentiment among corporate executives. Business leaders were pessimistic when assessing the potential for growth in demand and production in the next 3-4 months. The last time anticipated demand for products was so low was nearly five years ago.

These data are presented in a new Monitoring the Business Climate in Industrial Organizations study that was conducted in February 15 by the Centre for Business Tendency Studies at the HSE Institute for Statistical Studies and Economics of Knowledge (ISSEK).