Optimism about the global economy also rose a dismal 11 percent in the second quarter to 17 percent.
The survey, conducted from July 18 to August 28, ncluded 1,067 responses from CPAs in leadership positions, such as chief financial officer or controller, in their companies.
Forty-three percent expect to expand in the year, an increase from 24 percent in the prior company and executives’ optimism about their own companies rose to 41 percent from 30 percent. However, a year ago that figure was 61 percent before the COVID-19 pandemic. Only 13 percent of employees plan to hire immediately, but that was up from 7 percent the prior quarter with growth in headcount expected to be flat.
Most companies have enough cash as 85 percent said their cash position is strong or acceptable with 14 percent reporting it is dire or concerning. Sixty percent have some concern about liquidity in the next year with 10 percent having a significant concern.