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The Global Economic Conditions Survey (GECS) is one of the most comprehensive surveys of its kind, both for its number of respondents and for the range of economic variables it monitors. IMA and ACCA members from around the world share their insider views on the macro-economic environment as they see it. Within themed countries and regions, the GECS is regarded as a good predictor of GDP growth. Its correlations with the VIX, or “fear,” index are well-established. It is a trusted source for gauging the overall performance of the global economy.
Three levels of analysis are provided:
- Global: Providing an overall picture of respondent confidence
- Thematic: Weighing in on socio-political trends
- Regional: Interpreting policy changes, government actions, and current events in 9 regions
Key Findings of the Third Quarter 2024 Survey
- Confidence among global accountants and financial professionals declined moderately and is now at its lowest since Q4 2023 and slightly below its historical average.
- Confidence improved in North America although it recouped half of its previous fall and there was a marked decline in confidence in Asia Pacific.
- In Western Europe, confidence also fell quite materially, driven by a sharp decline in UK confidence.
- The top three risk priorities in the quarter for accountants included the economy, regulatory changes, and cybersecurity.