A national survey of business executives found the majority are "more optimistic" about revenues and profit expectations for the coming year. The poll, conducted by the Association of International Certified Professional Accountants (AICPA) and The Charted Institute of Management Accountants (CIMA), also showed the 12-month outlook on the global economy as improved, with pessimism dropping from 72% during last quarter's survey to 48% today.
The 2023 first quarter survey showed 23% of business executives expressed optimism about the U.S. economy's prospects over the next 12 months, an 11% increase from the previous year's expectations. Several major factors, such as inflation, rising interest rates, and geopolitical concerns, continue to damper expanded optimism among more business leaders.
A potential recession and its impacts were a concern for 90% of those polled by AICPA and CIMA. The survey also showed that inflation remained the top concern for business executives for the sixth straight quarter.