Welcome!

News Feed Item

Flagging Demand Hits Business Confidence in Canada Despite Rising Faith in the Recovery, Finds ACCA/IMA Report

TORONTO, ONTARIO -- (Marketwired) -- 02/10/14 -- A drop in demand for goods and services and deteriorating cash flow put a brake on Canadian business confidence - belief in the prospects for one's own organization - in the second half of 2013, a global survey of financial professionals has revealed.

Nevertheless, belief in the prospects for the wider economy grew substantially.

The Global Economic Conditions Survey (GECS) was carried out by ACCA (the Association of Chartered Certified Accountants) and IMA (the Institute of Management Accountants). A total of 3,471 finance professionals in 120 jurisdictions were surveyed in the second half of 2013, with in-depth coverage available for 16 markets.

"Overall, the Canadian finance professionals interviewed were less optimistic than most other respondents about the prospects for their organizations," said Suzanne Godbehere, Head of ACCA Canada. "Thirty-seven per cent reported a loss of confidence in the second half, up from 34 per cent in the previous half."

Godbehere explained that the second half of 2013 should have seen Canadian business confidence increase. Business opportunities grew, making up for the ground lost in the previous year and a half, the supply of growth capital increased, and prices and exchange rates appeared to stabilize.

"However, with a continuing fall in demand and the resultant cash flow issues, businesses responded by cutting back on investment and confidence declined," said Godbehere.

Yet positive economic sentiment in Canada - a belief in the prospects for the wider economy - grew substantially. Fifty-six per cent of respondents believed that economic conditions are improving or about to do so - up from 46 per cent in the first half of the year.

The pessimists now make up only 40 per cent of the Canadian sample, down from 54 per cent in the first half.

The contrast between rising faith in the recovery and flagging business confidence in Canada was echoed in China and Hong Kong, as well as smaller economies with a strong expert base.

The professional bodies claim that the global 'consensus of recovery' that has taken hold in the second half of 2013 is divorced from economic conditions on the ground, especially in the slowing emerging markets. In Canada, fiscal policy was also a cause for concern for businesses, with respondents reporting unease as they watched the country emerge from an era of austerity.


1.  About GECS
    This is the 20th edition of GECS.


2.  About ACCA
    ACCA (the Association of Chartered Certified Accountants) is the global
    body for professional accountants with 162,000 members and 428,000
    students in 170 countries worldwide. We aim to offer 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.

    We work through a network of 89 offices and centres and more than 8,400
    Approved Employers worldwide, who provide high standards of employee
    learning and development.

    www.accaglobal.com

    ACCA Canada has 2,500 members and 1,200 students in Canada.

    ACCA is not affiliated with any chartered accountant (CA) organization.


3.  About IMA® (Institute of Management Accountants)

    IMA, the association of accountants and financial professionals in
    business, is one of the largest and most respected associations focused
    exclusively on advancing the management accounting profession. Globally,
    IMA supports the profession through research, certification, continuing
    education, networking, and advocacy of the highest ethical business
    practices.

    IMA has a global network of more than 65,000 members in 120 countries
    and 200 local chapter communities. IMA provides localized services
    through its offices in Montvale, N.J., USA; Zurich, Switzerland; Dubai,
    UAE; and Beijing, China. For more information about IMA, please visit
    www.imanet.org.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
SYS-CON Events announced today that Interoute has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Interoute is the owner operator of Europe's largest network and a global cloud services platform, which encompasses over 70,000 km of lit fiber, 15 data centers, 17 virtual data centers and 33 colocation centers, with connections to 195 additional partner data centers. Our full-service Unifie...
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus intern...
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
SYS-CON Events announced today that Linux Academy, the foremost online Linux and cloud training platform and community, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Linux Academy was founded on the belief that providing high-quality, in-depth training should be available at an affordable price. Industry leaders in quality training, provided services, and student certification passes, its goal is to c...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing bes...
SYS-CON Events announced today that EARP Integration will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. EARP Integration is a passionate software house. Since its inception in 2009 the company successfully delivers smart solutions for cities and factories that start their digital transformation. EARP provides bespoke solutions like, for example, advanced enterprise portals, business intelligence systems an...
SYS-CON Events announced today that Loom Systems will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2015, Loom Systems delivers an advanced AI solution to predict and prevent problems in the digital business. Loom stands alone in the industry as an AI analysis platform requiring no prior math knowledge from operators, leveraging the existing staff to succeed in the digital era. With offices in S...
SYS-CON Events announced today that Hitachi Data Systems, a wholly owned subsidiary of Hitachi LTD., will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City. Hitachi Data Systems (HDS) will be featuring the Hitachi Content Platform (HCP) portfolio. This is the industry’s only offering that allows organizations to bring together object storage, file sync and share, cloud storage gateways, and sophisticated search and...
We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
SYS-CON Events announced today that Progress, a global leader in application development, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Enterprises today are rapidly adopting the cloud, while continuing to retain business-critical/sensitive data inside the firewall. This is creating two separate data silos – one inside the firewall and the other outside the firewall. Cloud ISVs ofte...
SYS-CON Events announced today that Fusion, a leading provider of cloud services, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry’s single source for the cloud. Fusion’s advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including cloud...