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CFO survey: Pessimism keeps growing

Roy Harris | Oct. 14, 2011
The market may still have its big rally days from time to time. But finance chiefs responding to the just-released third-quarter Deloitte "CFO Signals" survey have turned decidedly negative.

Some other results:

  • 52% say that economic turmoil is hurting their financial projections.
  • 68% worry that their strategies may not be defined enough for current conditions.
  • 37% fear their organizations will struggle to execute on chosen strategies.
  • 56% expect a dominant focus on growth to be domestic.

"CFO sentiment is driven by demand," said Sanford Cockrell III, national managing partner, CFO Program, Deloitte LLP. "The deepening impact of the European debt crises combined with stagnant employment, continued housing issues and volatile financial markets at home do not bode well for consumer demand anywhere. Little wonder some CFOs are stepping back -- even retreating -- from their previous growth projections."

 

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