If, as many would argue, the bean counters of this world are the ones always working to rein in spending on the corporate front, then they should also be given credit when their optimism leads the pack in routine surveillance of the current state of affairs in a regional economy. After all, the latest measure of business health in our region is on the increase again largely due to the opinions of the bean counters — the Chief Financial Officers of local business entities.
That’s the generalized outlook from Kruggel Lawton CPAs in their official 3rd Quarter 2017 Michiana Benchmark Business Index. That index is routinely assembled by the certified public accounting firm of Kruggel Lawton CPAs which has offices both South Bend and Elkhart in NW Indiana and St. Joseph in Michigan’s Great Southwest.
The 3rd Quarter Benchmark released this morning by Kruggel Lawton increased for the second straight quarter, with an overall Index reading at 60.98 out of a maximum possible score of 100. That’s up nearly 4-percent from the second quarter numbers when they were released.
Kruggel Lawton conducts the confidential survey of CFOs in for-profit companies in the South Bend region on a quarterly basis. The survey tracks changes in companies’ revenue, profitability, and employment levels compared to the same quarter of the prior year, along with CFOs’ perception of the business outlook for their companies. The CFOs’ input on these four metrics is combined into the overall Benchmark Business Index to provide a barometer of the Michiana-area business climate.
Noteworthy 3rd quarter survey results include:
- The overall Benchmark Index of 60.98 is the highest mark since the 4th quarter of 2014…
- As has been the case for the past five years, CFO outlook continues to be the strongest of the four metrics comprising the Index. Compared to the first survey taken in 2010, CFOs’ outlook has improved 10-percent…
- Compared to survey results from the prior quarter, the Revenue metric increased nearly 11-percent; Employment and Profitability increased 4-percent and 1-percent respectively, while the CFO outlook decreased 1-percent.
Terry Bush is a Director at Kruggel Lawton. He says, “The 3rd quarter survey results are consistent with what we see and hear as we serve clients throughout our communities.” Bush adds, “Business conditions remain robust, and many employers continue to grow revenue and seek to add new employees. While company owners and executives are understandably watchful for any signs of a potential downturn, they continue to capitalize on opportunities to invest and grow.”
If you are a CFO in a Michiana area for-profit organization and would like to participate in the survey, you can contact Terry Bush at tbush@klcpas.com or call 574-289-4011.
With offices in South Bend, Elkhart, and St. Joseph, Kruggel Lawton CPAs is a full-service accounting and business consulting firm offering assurance services, tax consulting, estate planning, business valuation, and business accounting services. Kruggel Lawton also has national and international capabilities as an independent member of the BDO Alliance USA. You can learn more online at www.klcpas.com.
