Russian cenbank says business climate improved in August

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A Russian flag flies over Russian Central Bank headquarters in Moscow

MOSCOW (Reuters) – Russia’s central bank said on Wednesday that its business climate index remained in the positive range for the second month running in August, with future expectations improving as businesses see overall risks easing and growth in costs slowing.

While the future outlook was positive, assessments of the current business climate fell, according to a central bank survey of Russian businesses.

“Negative assessments in production have increased due to continued demand constraints and problems with import supplies and a labour shortage,” the central bank said in a report.

Russian companies took a hit from unprecedented western sanctions that followed Russia’s move to send tens of thousands of troops into Ukraine on Feb. 24.

(Reporting by Alexander Marrow; Editing by Andrey Ostroukh)