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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
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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
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