Ukrainian companies improved their expectations in the second quarter of 2026. According to a National Bank survey of 665 enterprises, the Business Expectations Index rose to 107.0%, compared with 105.8% in the previous quarter.
The result signals a more positive view of future production and sales, although the recovery remains uneven across sectors. Positive expectations were recorded in agriculture, energy and water supply, construction, transport and communications, processing industry and other activities. Construction companies were the most optimistic, while mining companies remained the most restrained.
Credit, investment and labor signals
Most respondents who plan to borrow prefer hryvnia loans: 80.8% of companies indicated that choice. Businesses also expect higher sales volumes and stronger investment spending on machinery, equipment and inventory. At the same time, expected inflation rose to 11.6%, and companies forecast exchange rates of 46.12 hryvnias per dollar and 54.42 hryvnias per euro.
The labor picture is mixed. Only agriculture and several other activity groups expect staffing growth, while the processing industry anticipates the strongest decline in headcount. For investors, the survey shows a market where demand and investment intentions are improving, but risks linked to inflation, currency expectations and workforce availability remain important for project planning.
