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Bucharest
May 6, 2021
BUSINESS

Confidence in the Romanian economy, at a peak after July 2011

Confidence in the Romanian economy has soared in January 2012 at a peak after July 2011, up 2.7 percentage points, to 94.3 pc, Money.ro reports, quoting data released by the European Commission. In January, optimism increased among the population and industrial, service and construction companies, while retail managers said their expectations worsened. The confidence index across the European Union was on the rise as well, after plunging at a two-year bottom in December. The longer than expected crisis of the euro zone took its toll on economic prospects, as the monetary union will re-enter recession this year. But there are optimistic signs too, which hint to an improvement of the euro zone economy. In January, confidence in the economy of the monetary union registered a modest increase, after plunging to the lowest level of the last two years in the previous month, according to EC data. The confidence index advanced even more at European scale, by 1.2 points, to almost 93 pc, a sign that the morale of private economy in non-euro countries further improved. At the scale of the European Union, optimism reaches a peak in Germany, followed by the three Baltic States. At the opposite end are Greece, Portugal, Cyprus, Italy and Hungary.

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