特许公认会计师公会（ACCA）：2025年第三季度全球经济状况调查报告（英文版）（11页）.pdf

1、Global economic conditions survey report:Q3,2025.GLOBAL ECONOMIC CONDITIONS SURVEY REPORT:Q3,2025Executive summary 2Confidence rose quite sharply in North America and Asia Pacific but fell back in Western Europe.There was a strong rise in confidence in North America in Q3(see Chart 2),aided in part

2、by another improvement in sentiment among U.S.-based accountants.Nevertheless,confidence in the region remains at a low level,and there was quite a large drop in the forward-looking New Orders Index,which is at its lowest since the height of the pandemic in Q2 2020.The Capital Expenditure and Employ

3、ment indices also speak to significant caution on the part of firms.Confidence also expanded strongly in Asia Pacific,reversing the Q2 decline.The improvement may reflect various factors,including the resilience of the global economy and some decline in tariff-related uncertainty.By contrast,confide

4、nce fell quite sharply in Western Europe,amid a large decline in the UK.Fears about large tax rises in the upcoming Budget are likely weighing on sentiment in the latter.Global cost pressures rose and remain elevated in advanced economies.The proportion of Western European accountants reporting incr

5、eased operating costs rose sharply and remains extremely elevated historically.Cost pressures appear very heightened in the UK.They rose modestly in North America and remain on the high side historically(see Chart 5).Economic pressures continue to dominate risk perceptions among accountants globally

6、,closely followed by geopolitical uncertainty.Cybersecurity was also ranked highly,reflecting its systemic reach across sectors and regions.Open responses reveal a critical point:cyber risk is no longer confined to IT it is a governance and cultural challenge.Accountants remain cautious,and the GECS