More CPA decision-makers are pessimistic about the state of the U.S. and global economies, according to the quarterly Business and Industry Economic Outlook Survey.
The survey, released earlier this month by AICPA & CIMA, polled CFOs, CEOs and controllers about the economy, top challenges, and revenue and profit projections. The survey received more than 551 responses from Oct. 25 to Nov. 17.
Optimism for the U.S. economy dropped 6 percentage points to 12% — the lowest in the survey since the first quarter of 2009, and down from 41% one year ago. Sentiment about the global economy also dropped 2 percentage points, with only 7% of leaders sharing optimism.
Forty percent of survey respondents said they believe the U.S. economy is already in a recession, while another 51% said a recession will arrive within the next year. Only 4% don’t expect a recession at all. See more findings.