Americans feel stuck in mud. A muddy economy that it is.
A new survey by the financial research gurus at SageWorks Inc. found that 76 percent of surveyed bankers and accountants believe the economy will be the same or worse in the next 12 months.
Say, it’s not so!
Only 21 percent of the 613 polled believed that sunnier days were ahead. A meager 1.8 percent of respondents think the economy will be “much stronger” in one year.
So much for optimism. Sounds like the economy could use a strong dose of Vitamin D, Prozac or Geritol.
Afterall bankers’ dismal perceptions aren’t getting any help from Wall Street, The White House, The Fed or labor market economists who worry, worry, worry that the nation may be on the cusp of a second recession.
Given the zero employment gains in August, debt woes across Europe and the news that initial jobless claims recently hiccupped higher, it’s no wonder the country’s financiers are down in the dumps.
Sageworks asked CPAs, bankers and credit union execs the following:
Based on what you see with your clients, will the economy be better or worse in a year from now?
• 54.5% said the economy will be the same in 12 months.
• 19.4% said it will be worse
• 2.8% said it will be much worse
• 1.8% said it will be much stronger
• 21.7% said it will be stronger.
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