Business confidence strengthened in the third quarter of 2026 (Q3 2026), even as corporate leaders grappled with inflation, operational costs and geopolitical volatility, according to a survey by the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA).
The Q3 AICPA and CIMA Economic Outlook Survey was carried out on 4–25 August 2026 and gathered findings from 206 senior financial professionals.
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The survey data showed that executive teams are predominantly focused on “balancing growth opportunities with risk management”, a statement said.
The share of respondents expressing confidence in the US economy climbed to 36% from 32% in Q2, while positive views regarding the worldwide economy advanced from 19% to 24%.
Meanwhile, executives’ confidence in their own organisations remained relatively steady at 48%, compared with 49% last quarter.
Despite this broader uplift in macroeconomic outlook, commercial expansion strategies have become more cautious.
The proportion of businesses targeting expansion over the forthcoming 12-month period slipped to 49% from 54% in the previous quarter.
Anticipated expenditure across information technology, capital investments, and staff training and development also contracted compared with earlier levels.
Cost pressures remain the primary headwind, with approximately 80% of participants identifying inflation as a more substantial threat to their operations than deflation.
Key drivers of inflationary friction cited include labour expenses, raw material prices, utility and energy costs, and elevated borrowing rates.
Beyond monetary pressures, executive teams listed domestic political governance and shortages of skilled talent as prominent organisational obstacles.
Concurrently, issues surrounding cybersecurity risks and regulatory compliance advanced in urgency.
Leaders reporting an employee deficit increased from 28% in Q2 to 33% in Q3, alongside higher recruitment intentions.
A 53% majority of respondents indicated that their existing workforce numbers are sufficient.
Apprehension regarding a potential economic recession also softened over the three-month period.
Those expecting the US economy to either already be experiencing a recession or to enter one by the end of 2026 dropped to 46%, down from 51% in Q2.
The Association of International Certified Professional Accountants business engagement and growth executive vice-president Tom Hood said: “The third-quarter results reflect a business community that remains resilient despite ongoing economic headwinds.
“Confidence improved this quarter, but organisations continue to take a disciplined approach to investment and growth as they monitor inflation, costs and broader market conditions.”
