Survey: U.S. execs’ optimism ticks up

While still maintaining serious concerns about the economy, U.S. executives have grown more optimistic about revenue and profit expectations and other key indicators for the coming year – if only slightly so. 

While only 23% of respondents in the latest AICPA Economic Outlook Survey expressed optimism about the U.S. economy’s prospects over the next 12 months, that still represents a dramatic jump from the previous survey when just 12% felt that way – the measure’s lowest level since early 2009. Even with this uptick, however, the first-quarter edition of the poll, which surveyed 483 CPAs who hold leadership positions during the period of Feb. 7 and March 1, found that 90% of participants remain concerned about recessionary impacts. 

Given these concerns, almost a third of executives (32%) said they were taking steps to bring down staffing costs, with 17% having instituted hiring freezes and ceased recruitment of open jobs. Other strategies, employed to a lesser extent, include layoffs, reduced shifts/hours of operation and increased outsourcing. 

Additional findings: