Second Quarter of 2013 Proved to be the Turning Point for Global Economy
The state of Economy was improving from 43% to 47% as felt by almost half of all respondents. Business confidence and optimism about the global economy rose in Q2 2013 as compared to the first quarter. This optimism is supported by a stream of economic data as it is the highest level of optimism about the global and national economies.
ACCA and IMA stated that business confidence was improved in the second quarter in 2013. 26% of respondents reported an increase confidence in the prospects of their organizations. The GECS business confidence index was increased in Q2. In ACCA and IMA markets an evident was given with the exception of mainland china and Ireland. This evident was about the Q2 Survey which was reported by the respondents to the improved access to the growth capital reported in Q2.
EmmanouilSchizas, senior Economic analyst at ACCA and the editor of GCES survey stated that, China, Russia and US represent 37% of world GDP. The level of optimism is not shared evenly across the regions. Only North America and Africa are experiencing a genuine economic recovery. Respondents felt more optimistic about the recovery in Middle East, Western Europe and the Caribbean. There are signs of downturn in South Asia and Central and Eastern Europe.
The Economic recovery rose in the Second Quarter of 2013 in UK. 43% of respondents declared themselves optimistic about the future. EmmanouilSchizas further stated that, the latest ONS statistics show that UK economy grew by 0.6% in the Last three months to June. The view of optimism of respondents is supported by IMF which upgrades UK growth forecasts earlier this month.
UK business grew from 20% to 26% respondents reporting increased prospects in their organizations. Business opportunities increased on Demand and cash flow conditions tightened in 2013.
EmmanouilSchizas, further explained that, In 2013, monetary stimulus triggered a significant rise in business confidence and at the Same time fiscal policy is pulling in the opposite direction.
Second Quarter of 2013, is a turning point for the global economy and it proved to be the real recovery for some of the global economy.