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Midsized companies say recovery has begun.

Most executives believe an economic turnaround has begun, according to a mid-May Grant Thornton survey of 250 manufacturing companies with sales ranging from $10 million to $500 million.

Of the executives polled, 76% said a recovery from the recession had just begun, while only 17% said the nation was still in a recession.

The results of this spring's survey contrast sharply with a similar poll conducted in November 1991. In that survey, a mere 23% of the executives polled said a recovery had begun, while 74% said the economy was still in a recession.

However, even though executives of midsized companies are optimistic a recovery is under way, they are cautious about when the recession will end. Of the executives polled, 34% said it would be in the third quarter, with 51% looking for a full recovery in the fourth quarter of 1992 or later.
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Publication:Journal of Accountancy
Article Type:Brief Article
Date:Aug 1, 1992
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