The latest edition of the Global Economic Conditions Survey (GECS) from ACCA (the Association of Chartered Certified Accountants) and IMA® (Institute of Management Accountants).
. The survey took place between September 2 and 14, 2022 and gathered 905 responses.
Two developments underlined the precarious nature of the commercial environment. First, an increase in the number of respondents reporting “problems securing prompt payment,” which has risen to the highest level in four years. This could be the first sign of an increase in the number of organizations that may be experiencing cash-flow difficulties.
“Growing concern of increased interest rates in response to higher inflation and the result in tightening policy lies the risk where the global economy could slow more than businesses expect in 2023,” saidCommenting on the outlook for the Asia Pacific, he added, “The silver lining in the Asia Pacific market is that monetary policy has remained accommodative where the surge in inflation is within acceptable parameters in comparison with other regions, which could be the reason why we are seeing...
The findings in North America illustrate the impact of rising inflation and the global economy. After collapsing to a record low in Q2, North American confidence recovered slightly in Q3, but it is still the second weakest reading in the survey’s history. Even more worrying is that new orders, capital spending, and employment all deteriorated in Q3.
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