RSS
CFA Romania Macroeconomic Confidence Index steady in November
The CFA Romania Macroeconomic Confidence Index has held relatively steady in November, as compared to the previous month, at 65.6 points, on the rise by 0.6 points, reads a press release of the organisation.
"The current conditions indicator was of 77.3, down by 5.6 points, while the expectations' indicator rose by 3.2 points to the value of 59.8 points. As regards the exchange rate of Romania's national currency, the Leu, against the Euro, the median value of expectations in six months reached an estimated rate of 4.5000 (similar value to the one recorded in the previous exercise), and a 4.5100 anticipated rate for the 12-month horizon. The annual inflation expectation in 12 months (December 2017/December 2016) recorded a median value of 1.85 percent, down 0.15 percent from the previous reporting period, reads the document.
According to it, should be noticed the expectations on the rise of the inflation rate and of the nominal interest rates both for short-term and long-term due dates.
The CFA Romania Macroeconomic Confidence Index was launched in May 2011 by CFA Romania as an index that quantifies the expectations of financial analysts from Romania's economy over one year. The survey is carried out in the last week of each month, and the participants are CFA Romania members and candidates for the CFA exams levels II and III.
The index takes values between 0 (lack of confidence) and 100 (full confidence in Romanian economy) and is calculated based on 6 questions about current conditions - regarding the business environment, labour market, the evolution of personal revenue and of personal wealth at economy level.
The survey assesses expectations, for one-year-horizon, for inflation rate, interest rates, the Leu against the Euro exchange rate, the stock exchange index BET, the global macroeconomic conditions and the oil price.