running out of steam

Global Economy Running out of Steam, say Accountants

Fundamental weakness of the recovery “plain for all to see” as downside risks recede and governments withdraw support. The global economic recovery has run out of steam, reveals ACCA‘s (the Association of Chartered Certified Accountants) latest Global Economic Conditions survey, with confidence taking a hit and a return to solid economic growth moving further away. This is despite important improvements in conditions on the ground across most of ACCA’s risk indicators – especially the outlook for employment and investment – and even modest gains in the popularity of government actions to deal with economic turbulence. Helen Brand, chief executive of ACCA, says: “These are sobering findings from our global network of members. It is good news that fewer businesses are making staff redu... »