ERC4Business

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It seems that many view the economy as hanging by a thread, according to a Q2 survey that polled 949 accountants, including 100 CFOs, released last month.

The survey, which has been conducted by the Association of Chartered Certified Accountants and the Institute of Management Accountants for over 10 years on a quarterly basis, found that confidence in the North American economy has declined to levels last seen during the Covid-19 pandemic.

The Institute of Management Accountants said their forecast, formed by a wide range of accountants, is vital, because they get “insider views on the macroeconomic environment, within different geographies, from the perspective of someone who’s dealing with the numbers on a daily basis.”

The accountants surveyed cited inflation and the global political environment as two trends fueling their bleak outlook, but supply shortages and supply-chain issues remain the highest-ranked risk. Confidence in North America is particularly grim.

US business owners of all types and sizes need to take action now.

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