CFA Romania: Macroeconomic Confidence Index slightly up in November

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CFA Romania’s Macroeconomic Confidence Index was relatively constant in November against the previous month, at 65.6 points, up by 0.6 points, a release from the organisation informs.

“The current conditions index was of 77.3, down by 5.6 points, whereas the anticipations index was up by 3.2 points to 59.8 points. In regard to the EUR/RON exchange rate, the median values of anticipations for six months have indicated an anticipated exchange rate of 4.5000 (similar to the previous estimation), whereas for 12 months the anticipated exchange rate was of 4.5100. The anticipated inflation rate for 12 months (December 2017/December 2016) had a median value of 1.85% (down by 0.15% against the previous period),” the document reads.

It is to be noticed the anticipation for higher inflation and the increase of nominal interest rates over short term and long-term.

CFA Romania’s Macroeconomic Confidence Index was launched in May 2011, quantifying financial analysts’ anticipations on the economic activity in Romania for a time horizon of one year.

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.

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.

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