Suffolk CPA Firm, Diapoules and Feinstein CPAs P.C., Responds to Recent Claims of Future Economic Recovery

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Diapoules and Feinstein CPAs P.C. responds to an article published by USA Today regarding economists’ prediction that, after a sluggish first half, 2013 is expected to see a fall in unemployment and a rise in economic growth.

On February 20, 2013, CPA firm, Diapoules and Feinstein CPAs P.C., responds to a recent article published by USA Today. According to the article, economists foresee the nation’s economy and job-creating machine start to pick up the pace after a slow first half in 2013. This summer we can expect the economy to grow for the following nine months at “the fastest pace in three years.” This, as the article informs, is according to the testimonies of 46 different economists.

The article reports that the average monthly job gains are anticipated to reach 171,000, with a quickened pace later this year. Unemployment is expected to fall from 7.9% to 7.5% by the end of the year. By October, economists say the average monthly gains will increase to 155,000. Richard Moody, chief economist at Regions Bank, says, “I think we’re really on the verge of this becoming a self-sustaining recovery.” According to Moody, these revisions reflect a job market that is expanding in a more rapid pace than what was originally believed.

However, the article claims the first half of 2013 is expected to be slow as government spending cuts stifle growth and a payroll tax increase interferes with consumer spending. Economists say that the economy will grow at less than a 2% annual rate during the first half of 2013. Also, the effects of the federal cuts are expected to fade by the fourth quarter, with an increased growth of 2.7%.

Jim Diapoules, Long Island accountant at Diapoules and Feinstein CPAs P.C., had this to say about the recent economic predictions: “We are very excited to see these changes come to fruition. A number of our clients were getting very anxious with these federal cuts, but this expected growth will be sure to do much good for their financial worries as well as benefit their business.”

Diapoules and Feinstein CPAs P.C. have been providing accounting, auditing and tax services to Greater New York City area since 1989. D&F provides our clients with great personal attention and years of professional experience in order to see them succeed and help them to feel confident.

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