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Economic confidence recovers to near pre-pandemic levels for finance leaders
Sentiment has risen for three consecutive quarters in a quarterly survey of CPA executives in business and industry. Revenue and profit are projected to increase in the next year.
By Andrew Kenney
The arrival of vaccines and a nascent economic recovery boosted the outlook of finance leaders, whose confidence drew closer to pre-pandemic levels in the first-quarter AICPA Business & Industry Economic Outlook Survey.
The survey’s CPA Outlook Index (CPAOI) rose six points to 68 out of 100, boosted in part by finance decision-makers’ optimism about revenue and profit for the coming 12 months. The nine-component index peaked at 81 in the first quarter of 2018 and had remained in the 70s until the second quarter of last year, when it dropped from 76 to 38. A reading above 50 reflects positive sentiment.