The ACCA and IMA Global Economic Conditions Survey (GECS) for Q2 2025 indicated improved global confidence, reaching its highest since Q3 2024, though still low by historical standards. While New Orders and Capital Expenditure indices saw modest declines, the Employment Index improved slightly.

North America experienced a rise in confidence, particularly among U.S. accountants, but still lags historically. Western Europe also saw moderate gains, especially in the UK. In contrast, confidence in the Asia Pacific region sharply declined, largely due to changes in U.S. trade policy impacting global trade sentiment.

Jonathan Ashworth, ACCA Chief Economist, noted that while global growth has been resilient, low confidence does not predict an imminent downturn. Alain Mulder from IMA highlighted easing global cost pressures but warned of potential price increases due to inflation. Geopolitical risks became the top concern for accountants, with economic fears and regulatory compliance risks following closely behind. Climate change, fraud, and supply chain risks were less prioritized this quarter.