Finance Professionals Worldwide Optimistic about Global Economy, Despite Risks and Challenges Ahead

A recent survey by ACCA and IMA found that finance professionals worldwide are feeling more optimistic about the global economy. According to the Global Economic Conditions Survey (GECS), confidence levels have risen, with indicators for new orders and employment also trending positively. Despite concerns about increasing operating costs, this suggests an improving outlook for the global economy.

Jonathan Ashworth, Chief Economist at ACCA, cautioned that while these findings are encouraging, there are still risks and challenges facing the global economy. Growth is expected to be below average in 2024. Ashworth emphasized that central banks should proceed cautiously with any monetary easing due to concerns about rising costs.

The study identified talent scarcity and cybersecurity risks as major concerns for businesses worldwide. Africa, Asia Pacific, and South Asia were particularly impacted by worries about increasing operating costs. Despite this, confidence notably increased in the Asia Pacific region, potentially due to trust in the US economy and positive signs in the global market. Western Europe also saw a moderate rise in confidence, indicating stabilization after recent economic weakness.