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Controllers gloomy over 1991 sales and profit outlook.

Although most corporate controllers expect the recession to end sometime in 1992 (see JofA, June 91, p. 16), an increasing number look for declining sales and earnings this year, according to the latest survey of the National Association of Accountants controllers council, conducted in April.

Of the 3,200 controllers polled, only 43% believe sales and profits for their companies will rise this year. In the previous survey, conducted in January, 53% expected a sales increase for 1991 and 44% forecast an earnings gain.

The less favorable outlook for sales and earnings is reflected in expectations for employment. Only 11% of the controllers said their companies would hire new employees in the next six months, compared to 22% in the previous survey. The number of controllers anticipating lower employment levels rose to 39%, versus 25% in the earlier poll. Half of the controllers expect employment levels to stay the same for the next six months.
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Publication:Journal of Accountancy
Date:Jul 1, 1991
Previous Article:Sales tax rates rise as recession hits local budgets.
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