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According to the latest survey conducted by the Russian Union of Industrialists and Entrepreneurs (RSPP) in February 2026, the Composite Business Climate Index stands at 45.5 points, having risen by 1.4 points over the month. Despite the increase, the index remains below the 50-point threshold, indicating that prevailing business conditions continue to be weighed down by negative assessments.
Product Market and Pricing Trends
The Product Market Index stands at 45.3 points, having gained 1.5 points. In contrast, the procurement price indicator continues its downward trend, losing 0.6 points to reach 18.2 points, with two-thirds of respondents again reporting an increase in procurement costs. Selling prices, however, show consistent positive momentum, adding 1.8 points to reach exactly 60.0 points.
Demand and Competition
Demand conditions remain largely stable, with 55–57% of companies reporting no change in either sectoral or company-specific demand over the month. Approximately 14.7% of organizations note an increase in sectoral demand, while 17.9% see growth in demand for their own products or services. Nevertheless, negative responses still outweigh positive ones, keeping the demand indicators below 50 points at 41.8 and 44.2, respectively. The competition level indicator rises by 1.2 points to 62.4 points.
Orders and Contractual Obligations
The B2B index stands at 45.1 points, slightly down from the previous month, while the new orders indicator holds steady at 52.4 points, with a quarter of companies reporting an increase. However, order fulfillment timelines worsen, with the corresponding indicator dropping 2.5 points to 45.0 points, as 13.7% of companies report longer production times. The share of firms reporting an increase in outstanding obligations to counterparties rises by 5.7 percentage points to 13.7%, pulling the indicator down 1.9 points. The indicator for counterparty non-fulfillment of obligations remains unchanged at 37.9 points.
Logistics and Inventory
The Logistics Index stands at 47.2 points, having gained 0.9 points. The share of negative assessments of overall logistics conditions falls to 16.7%, contributing to a 3.9-point rise in that sub-indicator to 43.9 points. Inventory levels remain in positive territory, increasing by 1.9 points to 56.6 points. Conversely, average delivery times continue to decline, falling to 42.4 points, with 14.7% of companies reporting longer delivery periods.
Government and Financial Relations
The B2G (Business-Government) Index returns to positive territory, climbing 2.2 points to 51.8 points, driven by a 5.4-point increase in the business-government relations indicator, which reaches 57.6 points. Assessments of relations with banks and foreign partners remain in negative territory, though the gap between positive and negative responses narrows, with indicators at 48.4 and 49.2 points, respectively.
Financial Markets and Corporate Health
The Financial Markets Index stands at 45.3 points, having risen by 0.6 points. The financial position of companies improves by 0.6 points to 43.4 points, with 13.7% reporting better conditions, while 27.4% see deterioration. The stock market indicator gains 2.8 points to 47.5 points, while the currency market indicator continues its negative trend, falling 1.5 points to 45.0 points.
Personal Business Climate Assessments
The share of positive personal assessments of the business climate increases by 6 percentage points to 10%, raising the Personal Assessments Index by 4.5 points to 38.2 points. The majority of respondents (56.8%) see no change in the business climate.
Social and Investment Activity
Two-thirds of surveyed enterprises are implementing investment programs in February. Among them, 77.5% are proceeding without changes to schedules or budgets, while 17.5% report delays. One-tenth of companies increase investment volumes, while 5% are forced to reduce them.
Hiring activity is reported by 83.2% of organizations. Layoffs are implemented by 12.6% of companies, and the same share take measures to reduce working hours. Social programs for employees are in place at 82.1% of firms, with the most common measures being vouchers for health and children’s recreation (80%), voluntary health insurance (71.1%), and additional payments beyond the Labor Code (60%). Budgets for employee social programs remain unchanged at 80.4% of companies.
Additionally, 40% of companies implement additional measures to reduce labor market tensions, with one-third providing internships and 30.5% offering advanced training for employees.