Academic journal article Journal of Accountancy

Industry CPAs Expect Improving Economy, Rising Employment

Academic journal article Journal of Accountancy

Industry CPAs Expect Improving Economy, Rising Employment

Article excerpt

A survey of 463 CPAs conducted at the American Institute of CPAs spring national industry conference found the attendees in an optimistic mood.

When asked about the economy for the past 12 months, 81% described it as gradually improving and another 6% said it had improved dramatically. Only 11% said it had not improved and 3% thought it had gradually worsened. (Because of rounding, survey results do not add up to 100% in all cases.)

Seventy-two percent expected the economy to improve gradually in the next 12 months and 2% anticipated a dramatic improvement. Another 19% said there would be no improvement, 6% believed the economy would gradually worsen and 1% projected a dramatic deline.

Almost half of those polled (49%) expected a moderate rise in interest rates over the next 12 months and 40% anticipated a significant rate increase. Only 10% thought interest rates would remain level or decline.

Despite the widely expected rise in interest rates, 44% of the industry CPAs believed their companies' capital expenditures would rise moderately over last year's levels and 21% expected a significant capital spending increase this year. Another 22% anticipated no change and the remaining 13% looked for a decline. …

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