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Corporate controllers expect minor upturn this year.

A survey of 3,500 members of the Institute of Management Accountants controllers council, conducted in the second week of January 1992, found 95% believed the recession had not yet ended and 60% thought the recession would not end by June 30, 1992. However, 76% did not expect the current recession to escalate into a full-scale economic depression.

Of those polled, 76% anticipated a recovery sometime in 1992. However, 92% of those expecting a 1992 upturn believed it would be minor, and 67% of those predicting a 1993 recovery looked for a minor turnaround then.

The biggest spot in the quarterly survey was a slight improvement in corporate hiring plans. IN the current survey, 25% of the controllers said their companies would increase hiring levels, compared with 20% in the previous quarter. Another 55% expected employment to remain at present levels, unchanged from the previous quarter. The remaining 20% expected a decrease in employment levels, down from 25% in the previous quarter.
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Publication:Journal of Accountancy
Article Type:Brief Article
Date:Apr 1, 1992
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