CFO optimism rising
CFOs report a continued up-tick in optimism toward both the U.S. economy and their own companies, according to the Financial Executives International’s (FEI) fourth quarter CFO Outlook Survey.
Following an eight quarter decline that began in 2007, survey respondents’ optimism rose in both the third and fourth quarters of 2009, increasing from 54.20 in Q3 to 56.98 in Q4 2009. Similarly, CFOs’ financial prospects for their own companies were also on the rise, going from 64.10 to 67.09 in the fourth quarter of 2009.
Despite an improved overall outlook, U.S. economic growth remains at the top of list of CFOs' concerns (38%), and one quarter of CFOs (26%) cite consumer spending/demand as their top concern. Specific business challenges on CFOs' minds include competition (25%) and expense control (23%).
With regard to a timeline for recovery, 58% believe a U.S. economic recovery will be realized by the end of 2010; however, 22% believe it will occur in first half of 2011.
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LAST UPDATED 2/4/2010