CFA Romania Association survey shows confidence in the economy ‘declined significantly’

The Macroeconomic Confidence Indicator of the CFA Romania Association fell significantly, by 7.7 points, in May, reaching a value of 30.5 points, below the neutral 50-point benchmark. The current conditions indicator decreased by 9.3 points to 23.4 points, while the expectations indicator declined by 6.8 points, reaching 34 points.

“Amid risk aversion, driven by both external and internal factors, confidence in the economy has declined significantly. At the same time, in the context of the RON depreciation episode, the expectations regarding the future evolution of the exchange rate have also been adjusted. Furthermore, consistent with the evolution of confidence in the economy, the expectations for economic growth for the current year have recorded significant declines, already indicating a high risk of recession,” Adrian Codirlașu, the president of the CFA Romania Association, said, quoted by Forbes.ro.