Survey: 70 Percent of U.S. CFOs Believe Economy will Improve
According to the 2012 Fall CFO Survey from Grant Thornton LLP, almost 70 percent of the nation’s chief financial officers (CFOs) of companies believe the economy will either improve or remain stable during the next six months. The survey of 1,582 CFOs showed that 39 percent of participants believe the state of the economy will remain the same in the first half of 2013, another 30 percent believe it will improve. Thirty-one percent of those polled said the economy will worsen, a 10 percent increase from Grant Thornton’s 2012 Summer CFO Survey findings.
Stability expectations extended throughout the survey findings, with CFOs predicting that industry financial prospects (42 percent), pricing or fees charged (51 percent), and head count (49 percent) will all remain the same over the next six months.
Even with the looming threat of a “fiscal cliff,” 53 percent of CFOs reported that it wouldn’t affect the first six months of 2013 for their companies. Also, 60 percent of respondents don’t consider the uncertainty of the “fiscal cliff” resolution an obstacle to making business decisions.
“The turbulent years of the recent past have made businesses more adept at managing through economic uncertainty,” Stephen Chipman, chief executive officer of Grant Thornton LLP, said. “It is reassuring to see that CFOs are confident that we will not take any steps backward in our progress.”
CFOs also reported to keeping various employee benefits the same as last year, including:
- bonuses (55 percent)
- stock options (69 percent)
- 401K match (85 percent)
- other company-matched retirement contributions (82 percent)
More than half (59 percent) of CFOs plan to increase salaries. See the complete survey findings at www.GrantThornton.com/CFOSurvey.