The National Bureau of Statistics (NBS) has published the latest forecast of business activity based on surveys of business leaders. This forecast reflects continuity in sentiment, as similar expectations of stability prevailed in the second quarter of the year as well.
These assessments are largely based on the stabilization of the industrial sector, which showed steady growth in the first half of the year. Specifically, industrial production grew by 7.2% in January–May 2026 compared to the previous year.
Nevertheless, small and micro-businesses traditionally tend to be more cautious, hoping only to maintain their current positions without significant expansion.
In Moldova’s construction and retail sectors, contrasting sentiments are expected in the third quarter of 2026. While businesses in retail have moderately positive expectations, those in construction—despite seasonal factors—remain highly cautious amid a deep downturn in the real estate market.
The retail sector feels more confident, but retail business leaders are considering moderate staff reductions and price increases for their products.
In the second quarter of 2026, 54% of all respondents surveyed faced constraints on their operations. The main reason cited for the restriction of economic activity was insufficient market demand (reported by 33.9% of respondents).
Business operations are also negatively affected by financial problems (21.8%), a shortage of skilled labor (19.0%), the consequences of the crisis caused by the war in Ukraine (8.6%), and a lack of space and/or equipment (6.0%).
