ACCA Members Optimistic On Economic Recovery

Thu, 06 Aug 2009

The global economy should recover within the next 18 months, according to a new global survey by the Association of Chartered Certified Accountants (ACCA ).

The ACCA’s latest Global Economic Conditions Survey suggests that the loss of business confidence has slowed considerably, with confidence returning in key sectors such as large financial services firms and small and medium-sized enterprises.

Business confidence has also improved in key areas such as the Asia Pacific region, according to the research.

In Britain, over two thirds (69 per cent) of finance professionals polled said they believe the global economy had bottomed out, and more than half of respondents now expect a recovery in 12 months or less.

However, some UK respondents were more pessimistic about the recovery, with ten per cent expecting the downturn to last three years or longer, a view that is shared by 20 per cent of public sector accountants across the globe.

Meanwhile, the latest Output Index from UK accounting firm BDO Stoy Hayward indicate that Britain could start to recover from the recession within the next few months.
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