New data on business activity of small and medium-sized enterprises (SMEs) showed an improvement in sentiment in this sector. Based on a survey of 1.8 thousand companies, the RSBI index (determined by the study of PSB, Opora Rossii and Magram Market Research) rose from 48.4 points in May to 50.5 points in June. In contrast to the May measurement, when the decline in sentiment was only contained by future business expectations, the June survey records slight improvements in actual indicators. In June, 48% of respondents reported a decline in sales (52% in May), and 13% (12%) reported an increase in sales. The investment activity of companies increased: 17% of SMEs increased investments (16% in May), and 10% (8%) reduced their investments. The personnel policy in the sector is uneven: the share of both hiring new employees (from 7% to 11%) and reducing staff (from 14% to 16%) has increased. PSB Vice President Kirill Tikhonov explains the revival in the sector by adapting to new conditions and increasing the availability of loans due to a decrease in the key rate. Thus, the share of SME companies that received a new loan increased (from 9% to 11%)… .