The Business Activity Expectations Index (BAEI), calculated by the National Bank of Ukraine (NBU) on a scale from 0 to 100, dropped further in January 2025 by 4.9 points to 41.0, following declines of 2.3 points in November and 1.3 points in December 2024. This brings the index back to levels seen in January 2024, the regulator reported on its website.