CFA Romania macroeconomic confidence index down in October
The macroeconomic confidence index, based on a poll among CFA analysts in Romania, dropped by 2.3 points in October to 32.1 points, Agerpres reported.
The index varies between 1 and 100, with values under 50 signaling negative developments.
The index plunged in March and steadily recovered until September.
The downward correction in October was driven by the current conditions sub-index, which decreased by 13.2 points compared to the previous month, to 19.9 points.
Compared to the same month of last year, the current conditions sub-index fell by 45.2 points.
The anticipation sub-index increased by 3.2 points compared to the previous month, to 38.2 points (compared to the same month of last year, it decreased by 11.0 points).
The CFA analysts expect an average inflation rate of 2.68% for the 12-month horizon (November 2021 / November 2020).
It is noteworthy that over 60% of survey participants consider the real estate prices in large cities are overvalued.
Regarding the exchange rate, all survey participants anticipate a depreciation of the local currency in the next 12 months to an average value of RON 5.0102 per EUR in November 2021.
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