The final ACCA/IMA Global Economic Conditions Survey for 2016 was completed by over 4,500 finance professionals and business leaders worldwide during November and December 2016.
The results show that economic confidence dipped amid a rise in political and economic risks.
- A key reason for the decline in global confidence was a drop in the government expenditure index component of GECS, which is now at its lowest level since the start of 2016
- Declining incomes are companies’ main concern, with 44% citing this as a worry
- 43% of survey respondents said they had become less confident over the previous three months; just 23% had become more confident.
Exchange rate volatility is also high on the list of respondents' concerns. And weaker prospects in both OECD and non-OECD economies has also contributed to the decline in overall confidence. On a country level, confidence fell in China, Western Europe and the UK, and rose only slightly in the US.