KYIV, Jan 10 – Ukraine’s Business Activity Outlook Index (BAOI) declined to 48.6 in December 2019 suggesting a growing negative business sentiment in the country, the National Bank of Ukraine said in a report.

BAOI reading above 50 is implying a positive business outlook, while any reading below implies a negative outlook.

"Enterprises of all sectors involved in the monthly survey pessimistically evaluated the economic results of December. This can be explained by a further deterioration in the external environment, as well as a seasonal decrease in business activity," the NBU said in the report.