Inflation, staffing issues, state and federal policies and rising interest rates are all challenges facing businesses and the economy in New Jersey, according to certified public accountants. The accountants, who were surveyed by the New Jersey Society of CPAs, were divided in their expectations, with 44% saying they believe the state economy will stay about the same in the second half of this year as in the first half, and 44% saying they believe it will worsen. Those with bullish views were in a decided minority, with 12% saying they believe the economy will improve.

The survey showed more positive results than last year, however. In 2022, almost 65% of CPAs surveyed said the economy would worsen and 7% said it would improve. This year, participants were also more positive about the national economy. And they said the best things the government could do to improve business conditions would be to ease inflation, reduce regulations, lower taxes and cut government spending.

“Surveys like this one are a good way to gauge sentiment in all facets of society. It’s not surprising that inflation was more of a concern last year,” said Roosevelt D. Bowman, a senior investment strategist at Bernstein Private Wealth Management.