Michiana Benchmark Business Index Declines in 3rd Quarter

October 28, 2014 - Posted by:

SOUTH BEND/ELKHART, Ind. – The Michiana Benchmark Business Index, published by the certified public accounting firm of Kruggel, Lawton & Company, LLC, declined in the 3rd quarter of this year by just under six percent from the previous quarter. The overall Benchmark Business Index score for the 3rd quarter was 61.49 – out of a maximum possible score of 100 – versus 65.22 for the 2nd quarter of 2014.

For the 3rd quarter of 2014, all four survey components – revenue, profitability, employment, and CFO outlook – decreased from three percent to eight percent from the prior quarter. This marks four consecutive years – since the inception of the Benchmark Business Index Survey – in which third quarter survey results declined from the second quarter of the year.

“At first glance, the results of the Benchmark Business Index for the 3rd quarter are a bit discouraging, in that all four survey components declined from the prior quarter. However, after four years of quarterly survey results, a ‘third quarter slide’ appears to be emerging,” said Terry J. Bush, SPHR, a director at Kruggel Lawton. “In fact, it’s noteworthy and we think positive that the third quarter Index has increased every year since 2010, which is a welcome trend. Also, CFO optimism continues to be the highest of the four survey components, which is promising since CFOs have unique insight into their companies’ business performance and outlook.”

Kruggel Lawton conducts this survey quarterly among chief financial officers (CFOs) in for-profit companies in the Michiana region. It gauges companies’ revenue, profitability, and employment level compared to the same quarter during the prior year, along with CFOs’ perception of business outlook for their companies. These four components are combined into the Benchmark Business Index, which provides a general gauge of the Michiana area business climate.

If you are a CFO or controller in a Michiana area for-profit business and would like to participate in this survey and receive results, please contact Terry Bush at tbush@klcpas.com or call 574-289-4011, x205.