Ukrainian businesses’ forecast for 2022 is far from optimistic against the backdrop of climbing energy prices, rising productions costs, and quarantine curbs, a new survey found on Tuesday.

The NBU monthly report showed that purchasing managers’ index is 1.2 points down – from 49.8 in November to 48.6 in December.

Industries sector index score also echoed the bleak sentiment going underwater for the first time in last 7 months – it now stands at 49 as respondents expect a drop in export activities yet remaining positive that productions outputs will not be impacted in 2022.

Despite optimism about sales figures for 2022, retail sector index is also down to 49.6 as businesses are set to cut down their trade margins to keep afloat.

Services sector optimism about recovery from the pandemic has waned and is 1 point down to 47.8 compared to November figures.

Construction industries are the most pessimistic as shorter list of orders has seriously clouded the outlook for 2022. The construction industry index slid to 47.2 in December facing uncertainty over demand and investments.

Overall, Ukrainian businesses keep their expectations relatively low admitting they will have to raise their prices and predicting another bumpy year for the Ukrainian economy.