Accounting Today - Top 100 Firms 2011

regional overview REGIONS

the region was $229 million for 2010, a decrease of 1.74 percent over 2009.

NEW ENGLAND

With the exception of Rhode Island, unemployment in New England states remained below the national average. Rhode Island, although above the average, posted a significant ( 1. 2 percent) drop in unemployment. The mid-year outlook varied widely across sectors, according to the Federal Reserve. The outlook was largely positive in manufacturing and software, cautious for retail and tourism, and mixed among commercial real estate professionals. Conditions continued to improve during the waning months of the year, with most retailers reporting year-over-year sales increases, and manufacturing activity expanding. However, while commercial real estate markets were stable, residential real estate continued to be weak.

The Regional Leaders in New England reported combined revenue of $311.5 million, a drop of 2 percent from last year.

SOUTHEAST

While unemployment in the Southeast dropped in five of the six states in the region, it remained at or above the national average in four states. Signs of slowing or contracting economic activity were prevalent during the second half of the year, according to the Federal Reserve. Activity at retail and services firms was flat to down, and manufacturing activity also edged down during the fall months. At year’s end, indicators were generally either mixed or modestly improving.

The Regional Leaders in the Southeast earned a total of $641 million in 2010, declining by about half a percent from 2009.

SOUTHWEST

Unemployment in the states comprising the Southwest increased slightly during

the year, remaining below the national average in Texas and New Mexico at 8. 3 percent and 8. 5 percent, respectively. Arizona mirrored the national average, ending the year at 9. 4 percent unemployment.

The Dallas Federal Reserve District expanded at a modest pace throughout the year. Activity in the energy sector strengthened, while transportation services and staffing firms reported steady but solid demand. The region ended the year with mixed reports from the manufacturing sector. Commercial real estate conditions were improving slightly at year’s end.

The Southwest’s top regional firms reported $331 million in revenue in 2010, up nearly 1 percent over 2009 figures.

Unemployment in the three Western states with Regional Leaders in them rose slightly or remained steady during the year. Economic activity in the Federal Reserve District picked up slightly from June through mid-July, and firmed further from the fall through to the end of December. Manufacturing activity grew, agricultural production remained solid, and demand grew for providers of energy resources. However, home sales and construction stayed sluggish, and conditions continued to be weak in commercial real estate markets.