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More corporate controllers turn bullish.

The first quarterly survey of the Institute of Management Accountants controllers council in 1993 was conducted in the first week of February. It found corporate controllers in a much more optimistic mood than they were in the fourth quarter of 1992.

Nearly half of the controllers (49%) thought the United States was out of the recession, While 51% said the economy was still in a downturn. In the previous quarterly survey, 74% of the controllers thought the economy was still in recession and only 26% believed a recovery had begun.

Of those who thought the economy was still in recession, 63% said there was an upturn in the fourth quarter of 1992, and only 3% reported a deeper decline. The remaining 34% thought there was no change. This was a marked improvement over the fourth quarter poll, when only 23% said there was an upturn in the previous quarter, 20% reported a business downturn and the remaining 57% said there was no change.

Corporate controllers also were more optimistic on the inflation outlook. An overwhelming, 81% of those polled expected an inflation rate of 4% or lower for 1993 and only 19% projected a rate of 5% or more.
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Publication:Journal of Accountancy
Article Type:Brief Article
Date:May 1, 1993
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