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AICPA Survey: Execs Still Glum on Economy

Sentiment has improved but business executives are still glum about the economy, according to the findings of the third-quarter AICPA Economic Outlook Survey. Although it was up from 20 percent last quarter only 24 percent of respondents were a optimistic about the economy for the next 12 months.

Optimism about the global economy also rose a dismal 11 percent in the second quarter to 17 percent. 

The survey, conducted from July 18 to August 28,  ncluded 1,067 responses from CPAs in leadership positions, such as chief financial officer or controller, in their companies. 

Forty-three percent expect to expand in the year, an increase from 24 percent in the prior company and executives’ optimism about their own companies rose to 41 percent from 30 percent. However, a year ago that figure was 61 percent before the COVID-19 pandemic. Only 13 percent of employees plan to hire immediately, but that was up from 7 percent the prior quarter with growth in headcount expected to be flat.

Most companies have enough cash as 85 percent said their cash position is strong or acceptable with 14 percent reporting it is dire or concerning. Sixty percent have some concern about liquidity in the next year with 10 percent having a significant concern.

Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
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