The second quarter 2019 Michiana Benchmark Business Index (BBI), compiled by the certified public accounting and consulting firm of Kruggel Lawton CPAs, recovered slightly after reaching its lowest level ever in the first quarter of this year. The overall second quarter BBI was 53.01 out of a maximum possible score of 100, an increase of just over two percent from the first quarter of 2019.
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 second quarter survey results include:
“With continued national economic headlines about trade tensions and tariffs, the direction of interest rates, and tepid economic growth, this quarter’s survey results seem to indicate that our regional economy is treading water, with at least one positive indicator,” said Terry Bush, a director at Kruggel Lawton CPAs. “The Profitability metric increased over six percent from the first quarter, reflecting an increase in for-profit companies’ bottom lines compared to the second quarter in 2018. In addition, and as usual, chief financial officers’ perception of the outlook for their company is the strongest of the four metrics, indicating some 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.