23:25 / 03.03.2021
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“Uzbekistan’s economic activity declined in January, but business sentiment index improved” – Central Bank

The index of economic (business) activity of the republic in January 2021 significantly decreased in relation to December last year, but the business sentiment index has improved.

The Central Bank has released its January 2021 Economic Activity Indicators report.

According to the results of a survey of 702 enterprises and organizations of the republic, the index of economic activity decreased significantly in relation to December last year under the influence of seasonal factors, but the business sentiment index improved.

In particular, the index of economic activity in January of this year amounted to 50.3, which decreased by 2.4 units (52.7) in relation to December last year. The index of business sentiment was 65, it increased by 4.9 units (in December 2020 – 60.1).

“The decrease in the index of economic activity is explained by the decrease in the sectoral indices of economic activity in the spheres of industry, construction and trade, by 2.7 units (from 49.7 to 47 in January), 4.7 units (from 49.4 to 44.7 in January) and 8.2 units (from 58.2 to 50) in relation to December.

At the same time, in January of this year, there was a preservation of the indicator of economic activity in the service sector at the level of December (the index of economic activity increased by 0.2 units),” the report says.

Also, the business sentiment index increased across all industries. This demonstrates the improvement in economic expectations of enterprises in the next 3 months.

In January 2021, the business sentiment index grew in the sector construction by 8.8 units, in services - by 6.6 units, in trade - by 5.9 units, and in industry - by 2.6 units in relation to December last year.

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