- October 26, 2022
- Posted by: Stratford Team
- Category: Economy
Confidence about the economy among accountants remains lower than usual due to fears over inflation and a slump in business, according to the Q3 Global Economic Conditions Survey (GECS) from the Association of Chartered Certified Accountants (ACCA) and the Institute of Management Accountants (IMA).
Globally, the survey found that nearly three quarters of businesses are wrestling with increased costs, with many respondents reporting increased cost pressures for the last decade, and more than one in three worried about decreased income, with a similar proportion highlighting foreign exchange volatility as uncertainty and glimpses of recession dominate the latest economic outlook.
Two developments have surfaced in this uncertain 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, according to the ACCA and the IMA. This could be the…
