Figure of the day: 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. These data are presented in a new Monitoring the Business Climate in Industrial Organisations study that was conducted in February 15 by the Centre for Business Tendency Studies at HSE ISSEK.

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.

Source: HSE website