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CFA Romania analysts forecast improved economic activity in next 12 months

CFA Romania analysts forecast improved economic activity in next 12 months Business sentiment Romania

BUCHAREST (Romania), November 26 (SeeNews) - CFA Romania, an association of investment professionals, said on Tuesday 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 49.2 points in October, up 10.54 points compared to September, CFA said in a monthly survey. Compared with October 2018, the index stood 7.8 points lower.

The macroeconomic confidence indicator rose by 6.9 points month-on-month to 54.4 points in October.

The perception of the current economic situation edged down by 0.3 points month-on-month to 65 points in October.

The macroeconomic confidence indicator was 6.1 points lower in October compared to the same month of last year, while the current conditions index was 2.5 points higher.

The CFA analysts said they expect, on average, inflation of 3.6% in the year ending in November 2020.

Romania's consumer prices Romania's consumer prices rose by 3.4% year-on-year in October, compared to an increase of 3.5% in the previous month, data from the national statistical office showed.

The CFA analysts expect an exchange rate of 4.7992 lei ($1.1/ 1 euro) per euro in the next six months and 4.8597 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 = 4.7765 lei)