AICPA’s PFSi shows positive financial satisfaction

Posted on Monday, May 13, 2019 by Abby Draper

Pile of tax documents with a pen.

By Rebecca Kerr, OSCPA communications intern

A recent Accounting Today article gave a summary of AICPA’s quarterly Personal Financial Satisfaction Index (PFSi) findings.

Due to factors such as the betterment of the stock market, substantial amount of job openings, increased number of Americans paying their mortgages on time and the decrease in loan delinquencies, “the personal financial satisfaction of Americans [has] rebound[ed] to an all-new high after declines in the previous quarter.”

Conversely, “over the past three years, personal taxes have been the biggest contributor of financial pain for nine out of 12 quarters.”

Some key findings from this quarter in comparison with last quarter include:

  • A “11.3% gain in the PFS Market750 index brought it to 1.5% below its high point”
  • 75% of “pain factors” underwent slight reductions
    • inflation by 5.1%
    • loan delinquencies by 5.5%
    • underemployment by 4.7%
  • Taxes slightly increased by 0.6%

Additionally, Accounting Today reported “the AICPA CPA Outlook Index, which captures the expectations of CPA executives in the year ahead for their companies and the U.S. economy, remained approximately unchanged in the first quarter of the year from the prior quarter, though it has decreased 8.2% from the previous year.”

You can learn more about the PFSi and check out full reports from AICPA here. Are you surprised by any of these developments? Why or why not? Let us know in the comments.

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