Finance Pros Feeling Optimistic About Global Economy Despite Risks and Challenges

A recent study by ACCA and IMA has shown that finance professionals are feeling optimistic about the global economy. Despite concerns about increasing operating costs, confidence has risen and indicators for new orders and employment are trending positively. This suggests an improving outlook for the global economy, with notable increases in confidence in the Asia Pacific region.

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, and central banks should proceed cautiously with any monetary easing. The study also identified talent scarcity and cybersecurity risks as major concerns for businesses worldwide.

The Global Economic Conditions Survey (GECS) showed a rise in confidence among finance professionals, particularly in Western Europe after recent economic weakness. Africa, Asia Pacific, and South Asia were particularly impacted by worries about increasing operating costs. However, positive signs in the global market suggest trust in the US economy may have played a role in increasing confidence in those regions.