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North America
According to the Q3 AICPA and CIMA Economic Outlook Survey, CPA business leaders have shown a slight improvement in their outlook on the U.S. economy, with 34% expressing optimism for the next 12 months, up from 27% last quarter. However, concerns about inflation and tariffs persist, with 54% anticipating a recession soon. Tom Hood, CPA, CGMA, CITP, noted: “Volatility in trade policy continues to pose planning challenges.” Despite these challenges, hiring remains stable, with 16% of executives looking to hire immediately. Projected revenue growth is expected to be 1.5%, while profit expectations have slightly improved to just above break-even at 0.1%. The survey indicates that while there are positives, uncertainty continues to dominate business planning, said Tom Hood, AICPA executive vice president of business engagement and growth. He added: "[V]olatility in trade policy continues to pose planning challenges. With tariff effects still playing out, the next quarter could prove pivotal in shaping economic sentiment."
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