CFA Romania macro confidence index plunges in September, dragged down by gloomy expectations
The macroeconomic confidence indicator compiled by CFA Society Romania based on a poll among its members plunged in September by 10.9, to 34.7, on a 0-100 scale where 50 indicates neutral sentiment.
The decline, which reversed an 8.1-point recovery in August driven by positive macroeconomic figures, occurred amid expectations for a marked slowdown of the global economy, CFA Society’s deputy president Adrian Codirlasu said, according to Bursa.ro.
The current conditions component dropped from 60.3 in August to 52.4 in September, remaining slightly above the neutral benchmark (50). The expectations component, however, plunged by 12.5 points to 25.8 points in September.
The anticipated inflation rate for the 12-month horizon decreased, reaching an average value of 9.59%. The analysts expect a 4% GDP increase this year and a 6.1%-of-GDP budget deficit.
The yield of the 10-year Government bonds would decline within 12 months to 8.06% from 9.57% when the survey was compiled.
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