CPAs who are also senior financial executives expressed pessimism in the U.S. economy and expectations of continuing declines, according to a new survey by the American Institute of CPAs.

Pessimists outnumbered optimists for the first time since the AICPA began conducting the annual survey in 2005, and they did so by a five-to-one margin. A 59 percent majority of the 1,500 CPA respondents said they were pessimistic or very pessimistic about the outlook for the U.S. economy in the next 12 months, according to the survey, which was conducted by the AICPA and the University of North Carolina's Kenan-Flagler Business School.

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