Inflation worries, a tight labor market and global fallout from the Russo-Ukraine war have dropped business executives’ view of U.S. economic prospects to its lowest level since 2011, according to the second-quarter AICPA Economic Outlook Survey.
The strength of the economic recovery pushed this past quarter’s national Citizens Business Conditions Index (CBCI) to 57, its highest reading in three years and up five points compared to last year. A reading above 50 is considered expansionary.
The September Credit Managers’ Index from the National Association of Credit Management fell by a half a point from the August index, marking the first decline since April. However, the CMI is still trending positively in expansion territory