Romania’s annual inflation rate reached 3.5% in September, down 0.4 percentage points compared with August. The exchange rate stood at RON4.76 to the euro at midday Wednesday.
Financial analysts’ confidence in Romania’s economy grew by 4.8 points in September compared with August, to 47.6 points, Compared with September 2018, it dropped by 2.9 points, according to the macroeconomic confidence index measured by CFA Romania.
The current conditions index grew by 3.6 points in September compared with August, to 65.3 points. Compared with September 2018, it grew by 3.1 points.
The expectations index grew by 5.4 points in September compared with August, to 38.7 points. Compared with September 2018, the index dropped by 5.9 points, the data showed.
Over 75% of CFA analysts expect the leu to depreciate over the next 12 months to an average RON4.8471 to the euro. For the six-month horizon, the leu is seen depreciating to RON4.7967 to the euro.
Over 70% of analysts expect Romania’s credit default risk to grow.
The CFA Romania Macroeconomic Confidence Index was launched in May 2011 and aims to evaluate financial analysts’ expectations regarding the economic activity in Romania for a one-year horizon. The index is calculated on a scale ranging from zero (no confidence) to 100 points (full confidence in the Romanian economy).