A quarterly UNC Kenan-Flagler Business School and AICPA survey of business leaders shows more grim news for the economy in the months ahead.

Professor Mark Lang said they found pessimism among chief financial officers and senior level certified public accountants to be at an all-time high.

Eighty-two percent of those surveyed said they were pessimistic, a 20 percent jump from last quarter.

Lang said respondents pointed to the credit crisis and rising unemployment as key reasons.

He said this paints a dark future for the economy as businesses will be inclined to cut back on spending.

That means fewer jobs, a decrease in support for employees and less research and development both in the short and long term.

The survey was conducted after the presidential election.