The results of the latest quarterly business climate survey reveal slightly less favourable economic condition compared to the previous quarter: the IEER Quarterly Business Climate Index decreased from 33 to 30 points, thus the upward trend since October 2015 has been broken. According to the results the enterprises see their future prospects – not their current situation – more pessimistic than in April, that is, they predict the deterioration of the so far favourable business climate. The Business Climate Index was only 21 points in the same period of the previous year.

The Uncertainty Index is at a current level of 34 points, which is slightly lower than in the previous quarter (it was 35 points in April 2016). The value of the Uncertainty Index indicates that the current trend is not uniform within the private sector, and that it will continue to be confined to one part of the economy and will not be felt by all companies.