Confidence in Singapore benefits from strong global economic outlook, finds quarterly accountants' survey

SINGAPORE, Feb. 1, 2018 /PRNewswire/ -- Economic confidence in Singapore is significantly higher than in recent years, according to a quarterly global survey of accountants. 

According to the latest Global Economic Conditions Survey (GECS), produced by ACCA (the Association of Chartered Certified Accountants) and IMA (the Institute of Management Accountants), Singapore is benefitting from relatively high levels of confidence on a global level.

Reuter Chua, Head of ACCA Singapore, says,

'The report notes that as an open, trade-dependent economy, Singapore's fortunes are largely determined by the performance of the global economy, which is set to hold up reasonably well. In a reflection of this decent growth outlook, confidence in Singapore is significantly higher than the average of the past few years.

Hopefully this confidence will be maintained throughout 2018.'

Narayanan Vaidynathan, Head of Business Insights at ACCA, adds,

'The overall outlook for 2018 is a promising one in terms of global economic growth and confidence. Some of the signs of a global economic recovery in 2017 look set to continue, with improvements for developed and emerging markets.

'The relatively high level of global confidence reflects a stronger economic outlook in the US and India. While growth is expected to slow in China as the government focuses on risk management, this should be compensated by gains elsewhere.'

With the global outlook for 2018 looking promising there is hope for Singapore's economy to grow and continue the current positive trend.

Fieldwork for the Q4 2017 GECS took place between 24 November and 11 December 2017 and attracted 4,011 responses from ACCA and IMA members around the world, including more than 250 CFOs.

You can read the report here: https://www.accaglobal.com/gb/en/professional-insights/global-economics/global-economic-conditions-survey--q4--2017.html

About ACCA

ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants, offering business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management.

ACCA supports its 200,000 members and 486,000 students in 180 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. ACCA works through a network of 101 offices and centres and more than 7,200 Approved Employers worldwide, who provide high standards of employee learning and development. Through its public interest remit, ACCA promotes appropriate regulation of accounting and conducts relevant research to ensure accountancy continues to grow in reputation and influence.

ACCA is currently introducing major innovations to its flagship qualification to ensure its members and future members continue to be the most valued, up to date and sought-after accountancy professionals globally.

Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. More information is here: www.accaglobal.com

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