Business confidence in the U.S. declined in the second quarter and is now at its lowest level since the fourth quarter of 2016, according to a new report from the Association of Chartered Certified Accountants and the Institute of Management Accountants based on a survey of accountants.

Forty-five percent of the accountants polled at U.S. companies for the ACCA’s and the IMA’s second quarter Global Economic Conditions Survey cited rising costs as their main concern, followed by decreased income (35 percent). The least cited reasons for concern among the accountants polled were customers going out of business (14 percent) and suppliers going out of business (6 percent).

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