March 27 (SeeNews) - CFA Romania, an association of investment professionals, said that the economic activity in the country is expected to improve in the next 12 months.
Analysts' expectations regarding the economic situation in Romania in the next 12 months rose to 27.9 points in February, up 11.9 points compared to January, CFA said in a monthly survey published on Tuesday. However, compared with February 2018, the index was 8.7 points lower.
The macroeconomic confidence indicator also rose by 10.6 points month-on-month to 34.4 points in February, influenced by the positive perception of the current economic situation - an indicator which rose by 8.2 points on the month to 47.5 points in February.
The macroeconomic confidence indicator was 12.3 points lower in February compared to to the same month of last year, while the current conditions index was 19.6 points lower year-on-year.
The CFA analysts said they expect, on average, inflation of 3.72% in the year ending in March 2020.
Romania's annual consumer price inflation accelerated to 3.8% in February, from 3.3% in the previous month, data from the national statistical office, INS, showed.
The CFA analysts expect an exchange rate of 4.7885 lei ($1.14/ 1.01 euro) per euro in the next six months and 4.8462 lei per euro in all of 2019.
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 calculated based on six questions regarding current conditions of business and labour market; expectations about business, labour market, personal income and personal wealth.
(1 euro = 4.7564 lei)