For several reasons, including persistent inflation and concern about the effects of tariffs, CPA decision-makers in business and industry are less optimistic this quarter about the U.S. and global economy and their own businesses.

That's according to the Economic Outlook Survey released on Thursday. On Friday, Ken Witt, CPA, CGMA, AICPA & CIMA associate director–Management Accounting Research and Development, joined the Journal of Accountancy podcast to analyze the survey's latest results.

In the fourth quarter of 2024, Witt said, the likelihood of less regulation was one reason for an increase in sentiment. But much of that November enthusiasm has been tempered.

What you'll learn from this episode:

· The top challenge for CPA decision-makers' businesses (it's not a surprise).

· The difference in expansion plans based on company size.

· The percentage of respondents who expect tariffs to have a negative effect on their organizations.

· What finance executives project related to hiring in the coming 12 months.