David Kirkpatrick

August 20, 2009

CPAs becoming optimistic

Doesn’t mean a whole lot in terms of real world affect, but it is interesting to see how financial execs see the current state of the economy. (Hint: their sector has a huge influence on who’s wearing rose-tinted glasses and who isn’t.) I have a suspicion some of those optimists are feeling better in order to fight off the fatigue of this recessionary beatdown.

From the link:

 Heightened optimism among CPA financial executives seems to indicate the worst of the recession is in the past, but the consensus is growing that the U.S. economy is still a ways off from achieving a full recovery. While optimism about the economy continued to improve and spread across most industries in the third quarter, the percentage of executives who don’t see a recovery beginning until at least the second half of 2010 increased substantially (27% vs. 43%) from the previous quarter, according to a survey released Wednesday.

 When asked about the economic outlook for their own organizations, optimists outnumbered pessimists for the first time since the third quarter of 2008, according to results from the Business & Industry Economic Outlook Survey Q3 2009, conducted by the AICPA and the University of North Carolina’s Kenan-Flagler Business School. About 38% of respondents were optimistic or very optimistic about the economic prospects for their organization over the next 12 months, while 29% were very pessimistic or pessimistic. Thirty-three percent were neutral. Respondents also were more optimistic about their own organizations than about the U.S. economy as a whole (38% vs. 26%), continuing the trend seen over the past two years.

 Although optimism was more widespread than in previous surveys, it was not evenly distributed across all industries. Respondents from professional services and technology organizations see a brighter outlook for the upcoming year, with 49% and 61%, respectively, reporting they’re optimistic, compared with their colleagues in real estate and construction, who were 29% and 28% optimistic, respectively.

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