Report: Economic growth among top CFO concerns
Nearly half of chief financial officers surveyed cited domestic economic growth among their top two concerns, according to a report on CFOs' economic and business confidence and expectations by Morristown-based Financial Executives International and Baruch College's Zicklin School of Business.
"The big picture is they are concerned about economic growth domestically," said Bill Sinnett, senior director of research at Financial Executives Research Foundation, the research affiliate of FEI. "They feel that their challenge is revenue growth within their company, but at the same time, they see somewhat easier access to credit."
The quarterly CFO Outlook Survey, which gauges economic and business confidence and expectations of public and private businesses in the United States and Europe, found domestic economic growth was ranked either No. 1 or No. 2 on the list of economic concerns for 48 percent of CFOs surveyed, according to the results released Tuesday.
CFOs in the United States are not too concerned about inflation or changes in interest rates in the near term, and they do say access to credit seems to be easing, and have plans for capital sending and technology, Sinnett said.
"U.S CFOs forecast increases in capital spending of about 13 percent, and they plan to increase technology spending by about 9 percent," he said.
Survey respondents included 238 corporate CFOs from the United States and 123 corporate CFOs from Italy and France, at both public and private companies, who were polled electronically from Jan. 30 through Feb. 9.