I don't think any profession is in a better position to
judge the economy than CPAs. We are on the front line dealing with clients
in all aspects of their business.
Now a new survey from our governing organization, the
American Institute of Certified Public Accountants (AICPA) shows that CPA's
economic outlook has diminished.
CPA executives’ optimism over the U.S. economy has faded
substantially over the past two quarters, the AICPA’s Business & Industry
Economic Outlook Survey for the third quarter shows. After a significant rise
in confidence that ended in the first quarter of 2012, CPAs report dimming
expectations in virtually every major economic indicator.
The CPA Outlook
Index--a comprehensive gauge of executive sentiment within the survey--fell
four points to 63 for the quarter. The index had matched a post-recession high
of 69 at the start of this year, but has declined each of the past two
quarters.
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