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CPA firm survey sees business recovery by yearend.

According to a national survey of top executives of 250 manufacturing companies with annual sales between $10 million and $500 million conducted in May by Grant Thornton, 88% believe the United States is in a recession, compared with 67% in a similar survey conducted in December 1990.

However, of those who believe that a recession exists, 59% think it will end in 1991, with another 35% expecting the recession to continue beyond yearend. Manufacturers of electronic components, industrial and construction machinery and consumer goods generally look for a quick end to the recession, while automotive manufacturers and primary metal fabricators are less optimistic about an end to the recession in the current year.

Only 19% of those polled expect an increase in inflation in 1991, down from 39% last December. Another 64% look for a stable inflation rate, compared with 46% in December, with 15% projecting a decline in inflation, up from 13% in December 1990.
COPYRIGHT 1991 American Institute of CPA's
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Journal of Accountancy
Date:Sep 1, 1991
Words:156
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