Rising energy prices, shortages of raw materials, rising production costs and the intensifying Covid-19 pandemic were cited as the main reasons for the gloomier estimates for the future.
The National Bank surveyed 385 enterprises from Nov. 4-23. The monthly survey’s responses are used to generate an index, where 50 is neutral, numbers above 50 are optimistic and numbers below 50 are pessimistic.
November’s index was 49.8. This is the first time that the index has dipped below 50 since May.
The quarantine measures adopted throughout the country have hit sales and service sector companies especially hard, according to the survey. The optimism of construction companies has stayed the same, while industrial companies’ outlook has fallen but still remains positive.