Macroeconomic confidence index calculated by CFA Romania declined by 2.1 points compared to the previous month to 48.4 in October 2018, amid economic slowdown in Europe.

The decrease was triggered by worsened expectations. The sub-index of current conditions slightly increased by 0.3 points to 62.5 on the month, while the sub-index of expectations fell by 3.3 points to 41.3. On an annual basis, the current conditions sub-index advanced by 3.4 points, whereas the sub-index of expectations increased 5.8 points.

"The economy is visibly slowing, not only in Romania, but also in the European Union, and in Switzerland and Finland quarterly GDP figures have been negative. This reinforces the assertion that there are chances that we will see a slowdown next year next year," said Adrian Codirlasu, president of CFA Romania, quoted by Ziarul Financiar.

The CFA Macroeconomic Index is based on a poll conducted by the CFA Romania association among its members, and represents an indicator that aims to quantify the expectations of financial analysts on economic activity in Romania for a time horizon of one year.

The index ranges from 0 (no confidence) to 100 (complete confidence in the Romanian economy) and is calculated based on six questions regarding current conditions (of business and the labor market) and expectations about business, the labor market, the evolution of personal income and of personal wealth at the economy level.

editor@romania-insider.com