CPAs see fast start for business, problems later in 1990s.CPAs SEE FAST START FOR BUSINESS, PROBLEMS LATER IN 1990s An annual poll of American American, river, 30 mi (48 km) long, rising in N central Calif. in the Sierra Nevada and flowing SW into the Sacramento River at Sacramento. The discovery of gold at Sutter's Mill (see Sutter, John Augustus) along the river in 1848 led to the California gold rush of Institute of CPAs members found 77% expect business conditions for the first half of 1990 to be as good or better than in 1989. However, only 39% expect conditions during the rest of the decade to be better than they are now. Twenty-eight percent anticipate no change in the business climate and another 24% expect conditions to be worse. The federal deficit was cited by 38% of the CPAs polled as the most significant factor affecting the economy; 10% pointed to the trade deficit. A nationwide poll of corporate controllers conducted by the National Association of Accountants produced a gloomier forecast. Sixty-three Adj. 1. sixty-three - being three more than sixty 63, lxiii cardinal - being or denoting a numerical quantity but not order; "cardinal numbers" percent expect a recession in 1990 and 52% predict one in 1991. The corporate controllers rated, in descending descending /des·cend·ing/ (de-send´ing) extending inferiorly. order, interest rates, the federal deficit and inflation as the most serious problems the economy will face over the next six months. On a more positive note, the new chief economist The Chief Economist is a single position job class having primary responsibility for the development, coordination, and production of economic and financial analysis. It is distinguished from the other economist positions by the broader scope of responsibility encompassing the of the Conference Board expects an expansion in exports to lead the way to a 2.5-to-3% growth in the U.S. economy this year. Although cost pressures will take their toll on profits, demand from Mexico and Pacific Rim Pacific Rim, term used to describe the nations bordering the Pacific Ocean and the island countries situated in it. In the post–World War II era, the Pacific Rim has become an increasingly important and interconnected economic region. countries, in particular, will keep the economy from sliding into recession. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion