The latest Global Economic Conditions Survey (GECS), jointly conducted by the ACCA and IMA, has revealed a slight decline in confidence among global accountants in the third quarter of 2025, following a modest recovery in the previous quarter. The survey highlights persistent caution regarding global economic prospects, with key indicators such as the Global New Orders Index and Capital Expenditure Index hitting multi-year lows. The Employment Index also remained subdued, reflecting sluggish job markets across several economies. Jonathan Ashworth, Chief Economist at ACCA, noted that while the global economy showed resilience in the first half of 2025, the third quarter’s declines suggest a potential slowdown in global growth in the coming months. Despite this, he emphasized that a major economic downturn is not imminent. Regionally, North America saw a significant rise in confidence, driven by improved sentiment among US accountants, though the forward-looking New Orders Index plummeted to its lowest level since the pandemic’s peak in 2020. Alain Mulder, Senior Director at IMA, highlighted ongoing uncertainty in the US economy, with slowing job markets but solid GDP growth. In contrast, Western Europe experienced a sharp decline in confidence, particularly in the UK, where fears of upcoming tax hikes weighed heavily on sentiment. Meanwhile, Asia Pacific’s confidence improved, buoyed by global economic resilience and reduced tariff-related uncertainty. The survey also underscored the growing prominence of cybersecurity as a critical risk, transcending IT departments to become a governance and cultural issue across sectors and regions.