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.
