March 20 (SeeNews) - CFA Romania, an association of investment professionals, said on Tuesday that the state of the country's economy is expected to worsen in the next 12 months.
CFA analysts' expectations regarding the economic situation in Romania in the next 12 months dropped by 3.8 points to 36.6 points in March, CFA said in a monthly survey.
However, the macroeconomic confidence indicator rose by 0.7 points month-on-month to 46.7 points in March, boosted by the positive perception of the current economic situation - an indicator which rose by 9.9 points to 67.1 points in March.
The CFA analysts said they expect, on average, inflation of 4.32% in the year ending in March 2019, up 0.37 percentage points compared to their expectations in February.
Romania's annual consumer price inflation quickened to 4.7% in February from 4.3% in January, according to the most recent data available from Romania's statistical office.
The CFA analysts expect an exchange rate of 4.7021 lei ($1.25/ 1.07 euro) per euro in the next six months and of 4.7651 lei per euro in 2018.
The CFA Society Romania Macroeconomic Confidence Index, first released by CFA Society Romania in May 2011, represents 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 = 4.6655 lei)