The latest Global Economic Conditions Survey (GECS) from ACCA (the Association of Chartered Certified Accountants) and IMA® (Institute of Management Accountants) released today has revealed economic confidence in the UK has dipped to its lowest level since the second quarter of 2017.
The recent survey found economic confidence fell by five points since Q2. ACCA’s head of business insights, Narayanan Vaidyanathan, says:
‘Despite the latest figures showing the economy is performing reasonably well, confidence continues to fall amongst our respondents, as the uncertainty surrounding Brexit weighs on sentiment.
‘If a last-minute deal is agreed, then we can expect business investment to hold up reasonably well. In addition, the improvement in the government’s fiscal position should lead to an easing of austerity over the next couple of years.
‘When it comes to personal finance, consumers are very optimistic – the level of unemployment is low, wage growth is picking up and interest rates are still quite low and likely to increase at a very gradual pace.’
GECS is the largest regular economic survey of accountants around the world, in terms of both the number of respondents and the range of economic variables it monitors. The report can be found on ACCA’s website.
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ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants, offering business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management.
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