A NEW survey by the Association of Chartered Certified Accountants (ACCA) shows that finance professionals are forecasting a slow recovery in the world economy.
The professional body says in a statement that the Global Economic Conditions Survey among 805 of its members in 80 countries reveals a slow and credit-constrained recovery that can threaten the world’s leading economies with stagnation.
It suggests that “confidence has been lost in the sectors and countries that were once the engines of world economic growth, and that the resulting decrease in demand and supplier credit may be causing much more damage than the banking sector’s new-found aversion to risk.”
According to the survey, the contraction in world trade has affected professionals in Asia-Pacific badly, especially in China. It has also resulted in a loss of confidence among professionals in the region for their Western counterparts.
“Despite this, accountants in emerging markets and the developing world are expecting the global economy to bounce back sooner – with African countries such as Botswana, Zambia, Ghana and Kenya having the most optimistic respondents,” the ACCA says.
The research also shows that hopes of an early recovery are underpinned by trust in governments’ responses to the crisis, with businesses having to play a part too.
The professional body says in a statement that the Global Economic Conditions Survey among 805 of its members in 80 countries reveals a slow and credit-constrained recovery that can threaten the world’s leading economies with stagnation.
It suggests that “confidence has been lost in the sectors and countries that were once the engines of world economic growth, and that the resulting decrease in demand and supplier credit may be causing much more damage than the banking sector’s new-found aversion to risk.”
According to the survey, the contraction in world trade has affected professionals in Asia-Pacific badly, especially in China. It has also resulted in a loss of confidence among professionals in the region for their Western counterparts.
“Despite this, accountants in emerging markets and the developing world are expecting the global economy to bounce back sooner – with African countries such as Botswana, Zambia, Ghana and Kenya having the most optimistic respondents,” the ACCA says.
The research also shows that hopes of an early recovery are underpinned by trust in governments’ responses to the crisis, with businesses having to play a part too.
Source: ACCA global economic conditions survey findings revealed
No comments:
Post a Comment