There appears to be slight improvement in the outlook for the U.S. economy by business executives according to a recent Economic Outlook Survey by AICPA (American Institute of CPAs) as reported by CFO Magazine.
Almost two-thirds (62%) of business leaders forecast expansions of their companies in the next 12 months. This represents the greatest degree of optimism since Q1 of 2015.
Additionally, the outlook for profit and hiring has also improved even as sales growth expectation have fallen:
“Profit expectations, employment, and training and development spending also showed strength in the latest quarter, although expectations for revenue growth eased a point to 2.9% after rebounding from 1.7% in the first quarter to 3.0% in the second."
Profits are expected to rise 2.6%, which is significantly better than at the beginning of 2016. 70% of survey respondents also expect sales to increase in the coming year.
The AICPA survey regularly polls senior business leaders as well as senior finance and accounting roles (e.g., CEOs, CFOs, controllers, CPAs, etc.).