Economic confidence among chief financial officers declined moderately in the first quarter of 2024 and is slightly below its historical average, according to a recent study by the Association of Chartered Certified Accountants (ACCA) and the Institute of Management Accountants (IMA).
New orders improved again and are just above their average, the latest ACCA and IMA Global Economic Conditions Survey (GECS) says, but the capital expenditure index points to 'some caution' as concerns about costs are rising.
The Confidence Index for CFOs is moderately lower than that for the broader panel of the said study, which include accountants, auditors, CFOs, and others, as is the New Orders Index.
The Capital Expenditure Index for CFOs declined in the first quarter of 2024 and remains at a very low level by historical standard and is significantly lower than that for the broader panel.
The Employment Index increased quite materially and is now only slightly below its average.
The Employment Index for CFOs is very slightly higher than that of the broader panel, survey finds.
All in all, the Confidence, New Orders and Employment indices globally for CFOs are close to their historical averages, indicative of a reasonable global economic backdrop.
