The first quarter 2019 Michiana Benchmark Business Index (BBI), compiled by Kruggel Lawton, reached its lowest level since the survey began over eight years ago. The overall BBI was 51.86 out of a maximum possible score of 100, a decrease of over 11 percent from the fourth quarter of 2018.
Kruggel Lawton conducts this confidential survey of CFOs in for-profit companies in the South Bend/Elkhart 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. Participating 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 first quarter survey results include:
“In light of recent news – both nationally and regionally – about softness in the economy, the decline in the first quarter survey results is not overly surprising,” said Terry Bush, a director at Kruggel Lawton CPAs. “However, this is not all bad news . . . . on their perception of the outlook for their company, 78% of participating CFOs selected ‘OK, we’re treading water’ or ‘Good, we’re improving,’ which indicates a degree of optimism on the part of CFOs.”
With office locations in South Bend and Elkhart, Ind., St. Joseph, Mich., and Knoxville, Tenn., 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.