Economic indicators

This year is expected to be the worst for the global economy since World War II, according to a new survey by the Association of Chartered Certified Accountants and the Institute of Management Accountants.

The unemployment rate fell to 11.1 percent, as employees returned to work despite the ongoing spread of COVID-19.

Business executives who are also CPAs have sharply reduced their outlook for profits, sales, hiring and the overall economy over the next 12 months, because of the COVID-19 pandemic, according to a new survey by the American Institute of CPAs.

The CPA’s first line of defense is to protect e-tailers and brick-and-mortar shops.

The pandemic has prompted confidence among accountants to fall to its lowest levels on record in all regions of the world during the first quarter of the year.

Most CFOs polled by PwC expressed great concern for their business and 80 percent anticipate COVID-19 will decrease their revenue or profits this year.