CFA Romania’s macroeconomic confidence index reached 61.6 points in April from the 54.5 points in March, CFA Romania announced.
The increase in the macroeconomic confidence index was because of the improvement of both its components. The current conditions index went up by more than 8 points to 41.8, and the expectations index reached an all-time high of 71.5 points, up about six points on the March level.
The financial analysts’ confidence has been on the rise since March, after the pessimism of the first two months.
Economic growth forecasts have improved, too. Whereas bank analysts expected the gross domestic product growth to slow down to 2.3% compared with 2013, now they expect it to reach 2% to 3.5%.
Company managers, too, expect increase in activity in the processing industry, in retail and even in the construction sector in April-June, while services should increase at a moderate pace compared with the first quarter, according to the National Statistics Institute.
The macroeconomic confidence index ranges from 0 (no confidence) to 100 (full confidence in Romania’s economy) and is calculated based on six questions about the current business and labor market conditions, as well as expectations for a timeframe set at one year.
(English version by Loredana Fratila-Cristescu)