Pointing to a decisive deterioration in the global economic outlook, supply shortages and supply chain issues have remained the highest ranked risk, with little sign of improvements as sporadic covid-19 lockdowns continue to affect China, finds the latest global economic conditions survey from Association of Chartered Certified Accountants (ACCA) and Institute of Management Accountants (IMA).

Weak growth looks the most likely outcome for the rest of 2022, as confidence levels are rocked by decisive deterioration in the global economic outlook due to the effects of war in Ukraine and the surge in inflation across much of the world.