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CFA Romania analysts forecast slight improvement in economic activity

CFA Romania analysts forecast slight improvement in economic activity Business sentiment Romania

BUCHAREST (Romania), July 24 (SeeNews) - CFA Romania, an association of investment professionals, said on Tuesday that the state of the country's economy is expected to slightly improve in the next 12 months.

CFA analysts' expectations regarding the economic situation in Romania in the next 12 months rose by 0.8 points to 34.7 points in June, CFA said in a monthly survey.

The macroeconomic confidence indicator rose by 2.2 points month-on-month to 43.7 points in June, influenced by the positive perception of the current economic situation - an indicator which rose by 5 points on the month to 61.9 points in June.

The CFA analysts said they expect, on average, inflation of 4.85% in the year ending in June 2019, up 0.27 percentage points compared to their expectations in May.

Romania's annual consumer price inflation stood at 5.4% in June, at the same level as in the previous month, latest data from the national statistical office, INS, showed.

The CFA analysts expect an exchange rate of 4.7210 lei ($1.2/ 1.01 euro) per euro in the next six months and of 4.7929 lei per euro in 2018.

The CFA Society Romania Macroeconomic Confidence Index, first released by CFA Society Romania in May 2011, repr​esents 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 =4.6367 lei)