New CPA Outlook Index: Highest Level Since 2007
"This quarter the AICPA/UNC Kenan-Flagler Economic Outlook Survey introduces a new index – the CPA Outlook Index (CPAOI). The CPAOI is a broad-based composite index that captures the expectations that our members (CEOs, CFOs, Controllers, and other CPA executives) have about the prospects for their own organizations, their expectations for revenues and profits, and their plans for spending and employment. It is a composite of nine survey measures at equal weights (see CPAOI inset for description).
The CPA Outlook Index (CPAOI) increased by .07 this quarter to reach .69, its highest level since the 3rd quarter of 2007. A quarter of that improvement (26%) is attributable to the increase in optimism about the US economy which had lagged the improvement in organizational optimism which had occurred during 2010. Also contributing notably to this quarter’s improvement were expectations for revenue and for training and development spending."
MP: One more piece of the mounting and overwhelming evidence that this recovery "has legs," to quote finance blogger extraordinaire Scott Grannis.
3 Comments:
Looks like QE2 is gaining traction.
A weak, feeble Japanese monetary policy would be a disaster right now.
Bernanke: Keep your nerve, damn the torpedoes, full steam ahead.
QE3? Bring it on, baby, bring it on, pour it on, tip over the barrels, pull out the corks, set the whole damn house on fire and dance naked in the street.
Print money until the plates melt, and then keep going. The USA economy is immunized against inflation. We import everything: Goods, services, capital, labor. That undercuts prices.
This bull market could last for years, we just have to avoid Nipponista-style delusions, and keep pouring it on.
"Looks like QE2 is gaining traction"...
Since when is printing money out of nothing a traction gainer?
From Zer0hedge: Bernanke’s Unstoppable, Self Reinforcing Feedback-Loop
Our economic death spiral into the Second Great Depression
Wracked up by both parties over many decades our debt has evolved into a yearly deficit that can no longer be serviced with tax revenue and borrowing.
To avoid default Ben Bernanke chose to monetize the un-payable portion of our deficit. Each month about 100 billion dollars are created out of thin air to cover our government’s bills.
"When asked about recommendations that would provide the largest impact on their business’s ability to create jobs...";
CPA Index Survey said:
The one overwhelming response, at 60%, was "reduce regulatroy burden".
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