diff --git a/CHANGELOG.md b/CHANGELOG.md
index 0a70b41..00565fd 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,4 +1,5 @@
 ## Pending
+- [\#47](https://github.com/arkworks-rs/std/pull/47) Fix incorrect use of atomic variable in `src/perf_trace.rs`
 
 ### Breaking changes
 
diff --git a/src/perf_trace.rs b/src/perf_trace.rs
index 8766cb5..028060a 100644
--- a/src/perf_trace.rs
+++ b/src/perf_trace.rs
@@ -66,11 +66,10 @@ pub mod inner {
 
             let msg = $msg();
             let start_info = "Start:".yellow().bold();
-            let indent_amount = 2 * NUM_INDENT.fetch_add(0, Ordering::Relaxed);
+            let indent_amount = 2 * NUM_INDENT.fetch_add(1, Ordering::Relaxed);
             let indent = compute_indent(indent_amount);
 
             $crate::perf_trace::println!("{}{:8} {}", indent, start_info, msg);
-            NUM_INDENT.fetch_add(1, Ordering::Relaxed);
             $crate::perf_trace::TimerInfo {
                 msg: msg.to_string(),
                 time: Instant::now(),
@@ -110,8 +109,7 @@ pub mod inner {
             let end_info = "End:".green().bold();
             let message = format!("{} {}", $time.msg, $msg());
 
-            NUM_INDENT.fetch_sub(1, Ordering::Relaxed);
-            let indent_amount = 2 * NUM_INDENT.fetch_add(0, Ordering::Relaxed);
+            let indent_amount = 2 * NUM_INDENT.fetch_sub(1, Ordering::Relaxed);
             let indent = compute_indent(indent_amount);
 
             // Todo: Recursively ensure that *entire* string is of appropriate
@@ -144,7 +142,7 @@ pub mod inner {
             let start_indent_amount = 2 * NUM_INDENT.fetch_add(0, Ordering::Relaxed);
             let start_indent = compute_indent(start_indent_amount);
 
-            let msg_indent_amount = 2 * NUM_INDENT.fetch_add(0, Ordering::Relaxed) + 2;
+            let msg_indent_amount = start_indent_amount + 2;
             let msg_indent = compute_indent_whitespace(msg_indent_amount);
             let mut final_message = "\n".to_string();
             for line in $msg().lines() {