Financial professionals see some remaining threats to long-term economic stability in parts of the world and believe the recovery may be limited to a few islands of financial stability, according to a new survey.

The survey, from the Association of Chartered Certified Accountants and the Institute of Management Accountants, found a pronounced recovery in business confidence in North America in the second quarter of the year, with the U.S. emerging as one of the few markets in which a genuine recovery is still underway. Overall business confidence in the U.S. increased despite stagnating consumer demand and cash flow conditions, crossing into positive territory with its highest reading in the history of the ACCA and IMA Global Economic Conditions Survey so far.

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