The macroeconomic confidence indicator compiled by CFA Romania dropped in September, reaching 45.4 points, down 5.3 points over the previous month.

The indicator has a component that evaluates current economic conditions and one that looks into the expectations about the economy. The indicator that looks into the current economic conditions went down by 4.6 points in September, reaching 63.9 points. The analysts’ expectations decreased by 5.7 points to 36.1 points, the lowest value since October 2012.

Some 79% of the analysts expects a depreciation of the Romanian currency over the next 12 months in relation to the EUR/RON exchange rate. Moreover, the average three-month interbank rate (ROBOR 3M) is expected to reach 1.94% over the next 12 months. The yield on sovereign bonds denominated in lei with a maturity of 5 years is expected to reach 3.27% during this period.

The CFA indicator was launched in 2011. It quantifies the analysts’ perception of Romania’s economy for one year. The indicator ranges between 0 (lack of trust) to 100 (complete trust).

editor@romania-insider.com