For the last four years, the Indiana CPA Society has surveyed its members. And, probably to no one’s surprise, they’re more pessimistic than the last two times around. The results of the 2009 Business Outlook Survey include this summary:
Optimism scores declined for the second straight year of the survey, by 36 percent for the U.S. economy since 2007 and by 16 percent for the Indiana economy. On average, Indiana CFOs’ and CPA firm managing partners’ outlooks are pessimistic about the U.S. economy for the next six months, slightly pessimistic toward Indiana, neutral about their industries and moderately positive about their firms.
Specific concerns identified (in order) were:
- Governmental regulations affecting organizations
- Cost or availability of credit (rising interest rates)
- Employee and benefit costs
- Materials, supplies or equipment costs
- Energy/fuel costs
Asked about the economic recovery time period, respondents predicted an average of nine or ten months, with half predicting more than a year.
Let’s hope they have overestimated that last one.