Global Finance Professionals Optimistic about Global Economy, Despite Concerns about Growing Operating Costs

According to a recent study by ACCA and IMA, finance professionals are optimistic about the global economy. The Global Economic Conditions Survey (GECS) showed a rise in confidence, with indicators for new orders and employment also trending positively. This suggests an improving outlook, despite concerns about increasing operating costs. 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.

Jonathan Ashworth, Chief Economist at ACCA, emphasized that while the findings are encouraging, there are still risks and challenges facing the global economy. Growth is expected to be below average in 2024. Concerns about rising costs suggest that central banks should proceed cautiously with any monetary easing. Despite the positive trends, worries about increasing operating costs persist, with Africa, Asia Pacific, and South Asia particularly impacted. The study also identified talent scarcity and cybersecurity risks as major concerns for businesses worldwide.