The third quarter 2019 Michiana Benchmark Business Index (BBI), compiled by the certified public accounting and consulting firm of Kruggel Lawton CPAs, showed improvement for the second straight quarter after reaching its lowest level ever in the first quarter of 2019. The overall third quarter BBI was 54.78 out of a maximum possible score of 100, an increase of over three percent from the second quarter.
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 third quarter survey results include:
“We seem to hear ever more concern and anxiety about the economy at the global/national level and here in the South Bend region,” said Terry Bush, a director at Kruggel Lawton CPAs. “With a second consecutive quarterly increase in our overall survey index, we see an indication that for-profit companies in the region are generally holding steady. In fact, strong increases in the profitability metric since the first quarter of this year indicate that companies are earning healthier profits to re-invest in their business and people and address challenges and opportunities.”
With office locations in South Bend, Elkhart, and Goshen 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.