The CFA Romania Macroeconomic Confidence Index increased in March 2019 against the previous month by 0.5 points to 34.9 points, while as compared to the same month of the previous year, it lost 12.7 points, a CFA Romania survey reveals in Tuesday.
The Current Conditions Index decreased by 0.4 points against the previous month to 47.1 points (minus 17.1 points against the same month last year).
The Expectations Index increased by 1 point to 278.9 points (minus 10.5 points against the same month in the previous year).
With regard to the EUR/RON exchange rate, over 84% of participants anticipate a depreciation of the RON during the next 12 months (as compared to the present value). Thus, the average expectation for the 6-month horizon is 4.7946, while for the 12-month horizon the average value of the expected rate is 4.8541, the release reads.
The financial analysts estimate that the average inflation rate over the next 12 months (April 2020/April 2019) had an average level of 4.03%.
The survey is conducted during the last week of each month, and participants are members of CFA Romania and candidates for levels II and III of CFA exams.
The CFA Romania Macroeconomic Confidence Index was launched by CFA Romania in May 2011.
Macroeconomic confidence index can range from 0 (no confidence) to 100 (complete confidence in the Romanian economy) and is calculated based on six questions.
CFA Romania is the association of investment professionals in Romania, holders of the title Chartered Financial Analyst, qualification administered by the CFA Institute (USA). CFA Romania is one of the 144 member companies of the CFA Institute and has over 160 members.
CFA Romania promotes responsible investments over long term in the interest of its clients. CFA Romania has more than 230 members.