08 August 2012
The Global Economic Conditions Survey (GECS) for the second quarter of 2012, undertaken by ACCA (the Association of Chartered Certified Accountants) and IMA (the Institute of Management Accountants), cautioned that growth across the world's most developed economies has stalled once again and that the global economy is as fragile as it has ever been in the last three years. The global survey of 2,700 professional accountants, now well into its third year, suggests that hints of a stronger recovery in early 2012 were mostly down to misplaced optimism, and that most of the gains made at the time have since been reversed.
The Global Economic Conditions Survey (GECS) for the second quarter of 2012, undertaken by ACCA (the Association of Chartered Certified Accountants) and IMA (the Institute of Management Accountants), cautioned that growth across the world's most developed economies has stalled once again and that the global economy is as fragile as it has ever been in the last three years. The global survey of 2,700 professional accountants, now well into its third year, suggests that hints of a stronger recovery in early 2012 were mostly down to misplaced optimism, and that most of the gains made at the time have since been reversed.
Among the markets that were well-represented in the ACCA/IMA sample, the UAE remained the most confident, with 35% of respondents here reporting confidence gains (down from 42%) against 27% reporting losses (up from 23%). While the overall loss of momentum is consistent with global trends, it is worth noting than only the UAE recorded net confidence gains in the second quarter of 2012. Not surprisingly, positive attitudes towards the global economy are also more resilient in the UAE than elsewhere, with 46% of respondents thinking the recovery is on track, down from 53%.
Shenoy
ekadaa PR
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© Press Release 2012
