The economic outlook of financial executives in the United States continued to soften slightly in the fourth quarter amid faltering confidence in the domestic economy, according to the Business & Industry Economic Outlook Survey released Thursday by the Association of International Certified Professional Accountants.
The survey’s CPA Outlook Index (CPAOI) dipped by one point to 74, its second consecutive quarterly decline, but remained firmly in positive territory.
The decline was caused in large part by a sharp drop in overall U.S. economic optimism, which hit its lowest level since a year ago. The index is made up of nine equally weighted components; a reading above 50 indicates positive sentiment.
Leaders remained significantly more confident in their own organizations than in the domestic and global economy, but some said the path ahead is uncertain.
“I thought 2021 was going to be my most difficult year ever to budget for. Then we got to 2022,” said Mellissa Reed, CPA, chief business officer and senior vice president for the Akron Zoo.
