The results are based on business surveys conducted in August 2026 and reflect managers’ expectations regarding trends in economic activity, employment and prices. The findings are presented as a percentage balance, calculated as the difference between the share of respondents expecting an increase and the share expecting a decrease.
INS emphasizes that the business sentiment balance reflects managers’ perceptions of the projected dynamics of a particular phenomenon and should not be confused with the actual rate of increase or decrease of any statistical indicator produced by the institute.
Manufacturing output expected to remain broadly stable
Managers in the manufacturing industry anticipate relatively stable production volumes over the next three months, with a business sentiment balance of -1%.
Employment is also projected to remain broadly stable, with the balance standing at -5%.
At the same time, manufacturers expect industrial product prices to increase, reflected by a business sentiment balance of +21%.
Construction prices seen rising sharply
In the construction sector, managers forecast relatively stable activity over the next three months, with a business sentiment balance of +4% for construction output.
Employment is also anticipated to remain broadly stable, with a balance of +2%.
However, construction companies expect a pronounced increase in prices for construction works. The corresponding business sentiment balance stands at +41%, pointing to strong upward price pressures in the sector.
Retailers expect significant price increases
In the retail sector, managers expect turnover to remain relatively stable over the next three months, with a business sentiment balance of +5%.
Employment is forecast to increase moderately, with a balance of +6%.
Price expectations are considerably stronger. Some 43% of respondents anticipate price increases, while only 3% expect prices to fall, resulting in a business sentiment balance of +40% and indicating a sharp upward trend in retail prices.
Services sector largely stable
For the services sector, managers expect turnover to remain relatively stable over the next three months, with a business sentiment balance of +1%.
Employment is also forecast to remain broadly stable, with a balance of -2%.
However, prices for services are envisaged to rise, with selling or invoiced prices forecast to increase, reflected by a business sentiment balance of +17%.
The latest survey points to relatively stable activity and employment across most sectors, but continued and significant price pressures, particularly in construction and retail.