Global Economic Conditions Survey: Q3 2022

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url(/etc.clientlibs/membersbeta/clientlibs/static-assets/resources/img/components/hero/article-default-hero-image-6.jpg);" data-image="/etc.clientlibs/membersbeta/clientlibs/static-assets/resources/img/components/hero/article-default-hero-image-10.jpg"></div> <div class="hero-banner-overlay"></div> </div> <div class="inner hero-article-heading-container"> <div class="hero-panel"> <p class="article-category"> Policy and insights report</p> <p class="article-date"> 24 October 2022</p> <h1> Global Economic Conditions Survey: Q3 2022</h1> </div> </div> <div class="inner hero-article-details-container hidden-xs hidden-sm"> <div class="hero-resource-details articleHeroDetails"><div class="hero-article-details"> <div class="row"> <div class="col-xs-12 col-sm-offset-7 col-md-4"> <div class="panel panel-article-details"> <span class="cpd-icon"></span> <div class="content"> <h2> Global economics</h2> </div> </div> <div class="panel panel-author-details"> <div class="details"> <div class="content"> <h4> ACCA author</h4> <h3> Jamie Lyon</h3> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div class="content-section section-article-content"> <div class="inner"> <div class="hero-article-details-container visible-xs visible-sm"> <div class="hero-resource-details articleHeroDetails"><div class="hero-article-details"> <div class="row"> <div class="col-xs-12 col-sm-offset-7 col-md-4"> <div class="panel panel-article-details"> <span class="cpd-icon"></span> <div class="content"> <h2> Global economics</h2> </div> </div> <div class="panel panel-author-details"> <div class="details"> <div class="content"> <h4> ACCA author</h4> <h3> Jamie Lyon</h3> </div> </div> </div> </div> </div> </div> </div> </div> <div class="row"> <div class="article-content-top col-xs-12 col-sm-12 col-md-10 col-md-offset-1"> <ul class="breadcrumb-nav"> <li> <a href="/us/en.html">Home</a> </li> <li> <a href="/us/en/professional-insights.html">Policy and insights</a> </li> </ul> <div class="socialsharing socialSharing"><div class="social-sharing sticky hidden-print"> <ul> <li data-tooltip="Share on Twitter"> <a href="#" onclick="window.open('https://twitter.com/home?status=https://www.accaglobal.com/content/accaglobal/us/en/professional-insights/global-economics/gecs_q3_22.html','name','width=600,height=400')"> <span class="text"> Twitter </span> <span class="icon"> <i class="icon-social-twitter"></i> </span> </a> </li> <li data-tooltip="Share on Facebook"> <a href="#" onclick="window.open('https://www.facebook.com/sharer/sharer.php?u=https://www.accaglobal.com/content/accaglobal/us/en/professional-insights/global-economics/gecs_q3_22.html','name','width=600,height=400')"> <span class="text"> Facebook </span> <span class="icon"> <i class="icon-social-facebook"></i> </span> </a> </li> <li data-tooltip="Share on LinkedIn"> <a href="#" onclick="window.open('https://www.linkedin.com/shareArticle?mini=true&url=https://www.accaglobal.com/content/accaglobal/us/en/professional-insights/global-economics/gecs_q3_22.html&title=&summary=&source=','name','width=600,height=400')"> <span class="text"> LinkedIn </span> <span class="icon"> <i class="icon-social-linkedin-inverted"></i> </span> </a> </li> <li data-tooltip="Share via email"> <a href="mailto:?body=https://www.accaglobal.com/content/accaglobal/us/en/professional-insights/global-economics/gecs_q3_22.html"> <span class="text"> Email </span> <span class="icon"> <i class="icon-email"></i> </span> </a> </li> <li class="copy" data-tooltip="Copy link to clipboard"> <a href="#" class=""> <span class="text"> Copy </span> <span class="icon"> <i class="icon-copy-to-clipboard"></i> </span> </a> </li> </ul> </div></div> <div class="contentIntro title"><h2 class=""> Record leap in cost pressures underlines fragile confidence </h2> </div> </div> </div> <div class="row article-main"> <div class="article-content-main col-xs-12 col-sm-7 col-md-6 col-md-offset-1"> <div class="main-content parsys"><div class="image parbase section"><p class=""> <img src="/content/dam/ACCA_Global/professional-insights/gecs-report-q3-2022/GECS%20pic%20big.png/_jcr_content/renditions/original" alt="595319481" title="595319481" class="cq-dd-image"></p></div> <div class="textSection text section"><h4>The Global Economic Conditions Survey: Q3 2022 from ACCA and IMA reflects a volatile business environment</h4> <p>With the global economy facing severe headwinds from inflation, low growth, increasing interest rates and geopolitical volatility, the quarterly Global Economic Conditions Survey (GECS) from ACCA and IMA continues to provide regular commentary and valuable insights on long-term trends. In such uncertain times, the longevity of this study comes into its own.</p> <p>The GECS: Q3 2022 shows a broadly pessimistic picture.</p> <p>While the Confidence Index (CI) rebounded slightly, reflecting mid-year hopes that inflation would slow and central banks would ease monetary policy, it remains below the median reading across the past decade.</p> <p>The other three indicators that are more closely related to economic activity – new orders, capital expenditure and employment – also all showed a further deterioration. 2022 looks set to be a year of slower growth with forecasts on the downside for 2023.<br>  </p> <script> (function($) { //Remove the styles from the page as it comes $(".textSection").find("li,ul,ol,span,p,div").css({fontFamily: "", fontSize: ""}); }(window.jQuery)); </script></div> <div class="image parbase section"><p class=""> <img src="/content/dam/ACCA_Global/professional-insights/gecs-report-q3-2022/GECS-Q3-2022%20FIG1.jpg/_jcr_content/renditions/original" alt="GECS-Q3-2022 FIG1" title="GECS-Q3-2022 FIG1" class="cq-dd-image"></p></div> <div class="textSection text section"><p><br> The corporate sector remains fragile with the 'fear' indices – will suppliers or customers go out of business? – unchanged from the Q2, but still above pre-pandemic levels.</p> <p>One element from this quarter did stand out. Nearly three quarters of business are wrestling with increased costs – in fact, this increased cost pressure is the highest number ever reported by the GECS across a decade of surveys.</p> <p>Add to that figure that one in three businesses are worried about decreased income and virtually the same number are concerned with foreign exchange volatility, and you have an uncomfortable insight into respondents' views for the near future.</p> <script> (function($) { //Remove the styles from the page as it comes $(".textSection").find("li,ul,ol,span,p,div").css({fontFamily: "", fontSize: ""}); }(window.jQuery)); </script></div> <div class="linkList section"><div class="link-list-resourcefinder"> <h5>Further reading</h5> <ul> <li> <a href="/content/dam/ACCA_Global/professional-insights/GECsQ22022/GECS-Q2-2022 v3.pdf" title="Global Economic Conditions Survey: Q2 2022" target="_self"> <span class="icon-right pull-right red-right-arrow" aria-hidden="true"></span> <p class="description">Global Economic Conditions Survey: Q2 2022</p> </a> </li> <li> <a href="/content/dam/ACCA_Global/professional-insights/gecs_q1_2022/GECS-Q1-2022_v2.pdf" title="Global Economic Conditions Survey: Q1 2022" target="_self"> <span class="icon-right pull-right red-right-arrow" aria-hidden="true"></span> <p class="description">Global Economic Conditions Survey: Q1 2022</p> </a> </li> <li> <a href="/us/en/professional-insights/global-economics.html" title="More insights on 'Global Economics'" target="_self"> <span class="icon-right pull-right red-right-arrow" aria-hidden="true"></span> <p class="description">More insights on 'Global Economics'</p> </a> </li> <li> <a href="/us/en/professional-insights.html" title="Read the latest professional insights" target="_self"> <span class="icon-right pull-right red-right-arrow" aria-hidden="true"></span> <p class="description">Read the latest professional insights</p> </a> </li> </ul> </div> </div> </div> <div class="related-topics"> <h3> Related topics </h3> <ul> <li> <a href=""> <span class="text">Financial management and forecasting</span> </a> </li> </ul> </div> </div> <div class="article-content-side col-xs-12 col-sm-5 col-md-4"> <div class="side-content-articleDetails articleDetails"><div class="panel panel-article-details"> <span class="cpd-icon"></span> <div class="content"> <h2>Global economics</h2> <p></p> </div> </div> </div> <div class="social-sharing-mobile socialSharingMobile"><div class="social-sharing visible-xs visible-sm hidden-print"> <ul> <li> <a href="#" onclick="window.open('https://twitter.com/home?status=https://www.accaglobal.com/content/accaglobal/us/en/professional-insights/global-economics/gecs_q3_22.html','name','width=600,height=400')"> <span class="text"> Twitter </span> <span class="icon"> <i class="icon-social-twitter"></i> </span> </a> </li> <li> <a href="#" onclick="window.open('https://www.facebook.com/sharer/sharer.php?u=https://www.accaglobal.com/content/accaglobal/us/en/professional-insights/global-economics/gecs_q3_22.html','name','width=600,height=400')"> <span class="text"> Facebook </span> <span class="icon"> <i class="icon-social-facebook"></i> </span> </a> </li> <li> <a href="#" onclick="window.open('https://www.linkedin.com/shareArticle?mini=true&url=https://www.accaglobal.com/content/accaglobal/us/en/professional-insights/global-economics/gecs_q3_22.html&title=&summary=&source=','name','width=600,height=400')"> <span class="text"> LinkedIn </span> <span class="icon"> <i class="icon-social-linkedin-inverted"></i> </span> </a> </li> <li> <a href="mailto:?body=https://www.accaglobal.com/content/accaglobal/us/en/professional-insights/global-economics/gecs_q3_22.html"> <span class="text"> Email </span> <span class="icon"> <i class="icon-email"></i> </span> </a> </li> <li data-tooltip="Copy link to clipboard"> <a href="#" class=""> <span class="text"> Copy </span> <span class="icon"> <i class="icon-copy-to-clipboard"></i> </span> </a> </li> </ul> </div> </div> <div class="side-content parsys"><div class="textQuote section"><blockquote> <p> "One of the key risks will be how much and how quickly central banks will seek to further tighten monetary policy in the months ahead to tame inflationary pressures, and whether or not the global economy could slow more than business leaders expect in 2023" </p> <cite>Jamie Lyon, head of skills, sectors and technology</cite> </blockquote> </div> <div class="relatedDocuments parbase section"><div class="panel panel-dark panel-related-downloads"> <div class="details"> <div class="content"> <h3> Related downloads</h3> </div> </div> <ul> <ul class="parDocuments parsysList parsys"><div class="download parbase section"><li> <a href="/content/dam/ACCA_Global/professional-insights/gecs-report-q3-2022/GECS-Q3-2022%20v7.pdf" target="_blank"> <span class="type"><strong>Download</strong> PDF1.73MB</span> <span class="title">Global Economic Conditions Survey Report: Q3, 2022</span> </a> </li> </div> </ul> </ul> </div></div> </div> </div> </div> </div> </div> </div><div class="footerToolbar iparsys parsys"><div class="section"><div class="new"></div> </div><div class="iparys_inherited"><div class="footerToolbar iparsys parsys"><div class="columnSplitter section"><div class="grid-container"> <div class="row"> <div class='col-xs-12 col-sm-6 col-md-7'> <div class="column-1 parsys"><div class="columnSplitter section"><div class="grid-container"> <div class="row"> <div class='col-xs-12 col-sm-6 col-md-6'> <div class="column-1 parsys"> </div> </div> <div class='col-xs-12 col-sm-6 col-md-6'> <div class="column-2 parsys"> </div> </div> </div> </div></div> </div> </div> <div class='col-xs-12 col-sm-6 col-md-5'> <div class="column-2 parsys"> </div> </div> </div> </div></div> <div class="footerToolbar section"><div id="footer"> <div id="footer-top"> <div class="inner"> <div 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