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BUCHAREST (Romania), October 24 (SeeNews) - CFA Romania, an association of investment professionals, said on Thursday that the economic activity in the country is expected to improve in the next 12 months.
The index of analysts' expectations regarding the economic situation in Romania in the next 12 months measured 38.7 points in September, up 5.4 points compared to August, CFA said in a monthly survey. Compared with September 2018, the index was 5.9 points lower.
The macroeconomic confidence indicator rose by 4.8 points month-on-month to 47.6 points in September, influenced by an improved perception of the current economic situation - an indicator which rose by 3.6 points on the month to 65.3 points in September.
The macroeconomic confidence indicator was 2.9 points lower in September compared to the same month last year, while the current conditions index was 3.1 points higher year-on-year.
The CFA analysts said they expect, on average, inflation of 3.82% in the year ending in October 2020.
Romania's consumer prices rose by 3.5% year-on-year in September, compared to an increase of 3.9% in the previous month, data from the national statistical office showed.
The CFA analysts expect an exchange rate of 4.7967 lei ($1.12/ 1 euro) per euro in the next six months and 4.8471 lei per euro in the next 12 months.
The CFA Society Romania Macroeconomic Confidence Index, first released by CFA Society Romania in May 2011, is an indicator that aims at quantifying financial analysts' expectations regarding economic activity in Romania for a time horizon of one year.
The index takes values between 0 (no confidence) and 100 (complete confidence in the Romanian economy) and is compiled based on six questions regarding current conditions of business and labour market; expectations about business, labour market, personal income and personal wealth.
(1 euro = 4.7528 lei)