CFA Romania’s Macroeconomic Confidence Index hits new post-crisis record in March
The Macroeconomic Confidence Indicator, compiled by the CFA Romania Association every month based on a poll among its members, increased by 5 points in March 2021 to 60.7 points.
Andrei Chirileasa · Journalist
· Updated · 1 min read
The Macroeconomic Confidence Indicator, compiled by the CFA Romania Association every month based on a poll among its members, increased by 5 points in March 2021 to 60.7 points.
Compared to March 2020 - when the indicator plunged amid lockdown - the indicator is up by 39.9 points.
"Both the confidence indicator and its two components have reached the maximum values after the Covid-19 crisis, which indicates confidence in the economy's recovery this year. The survey also shows expectations for rising inflation and interest rates, in line with both global developments and the forecast for economic growth," commented Adrian Codirlasu, Vice President of the CFA Romania Association.
The anticipated inflation rate for the next 12 months (April 2022 / April 2021) registered an average value of 3.44%.
Regarding the EUR/RON exchange rate, over 93% of the survey participants predict a depreciation of the local currency in the next 12 months. Thus, the average value of the anticipations for the 6-month horizon is RON 4.9517 to EUR, while for the 12-month horizon, the average value of the forecasted exchange rate is RON 4.9903 to EUR.
(Photo source: Pixabay.com)
