North American accountants are pessimistic about the 2026 economy

North American accountants are heading into 2026 a tad worried, and their outlook may signal a mild economic slowdown ahead.

That’s according to a survey by the Association of Chartered Certified Accountants and the Institute of Management Accountants. The survey found that North American finance professionals’ confidence in the economy is “very weak by historical standards,” and down slightly from Q3 2025, but still higher than the first half of last year.

The survey, fielded quarterly for more than 10 years, polled nearly 1,200 accountants and other financial professionals, including CFOs, globally. The survey took place December 2–15, 2025.

The economic factors North American finance pros said they witnessed hinted at the reason for their pessimism. Two-thirds saw costs rise in Q4 2025, the highest percentage since Q4 2023. Globally, new orders dropped over the course of 2025, though they rose slightly in North America. The survey’s employment index for North America hit a record low, signaling it could be a key downside risk.

Anxiety over customer’s financial health was also high. Nearly a quarter of North American respondents expressed fears their customers would go out of business, compared with a historical series average of 16%. Concerns about accessing finance and securing payments from customers were both elevated, which the authors of the survey report said was “perhaps indicative of some early signs of corporate distress.”

CFOs were more upbeat. CFOs’ impression of the employment picture dipped to “its third-lowest level in the series’ history.” They also reported a decline in new orders, while they saw higher than average operating costs. The findings suggest that CFOs are cautious, the report’s authors said.

The report’s authors predicted the global economy would remain “resilient” this year due to “recent monetary easing by central banks, stock market gains, supportive fiscal policies in key countries, and the ongoing global AI boom."

But risks remain high, they warned, and a slight downturn could be on the horizon.