Business Services Industry
Survey: CFO Optimism Plunges to Record Low; Capital Spending and Hiring to Stagnate; Consumers, Wages and Credit Markets Are Big Concerns.
AScribe Business & Economics News Service, September, 2007
Byline: Duke University
DURHAM, N.C., Sept. 11 (AScribe Newswire) -- Optimism about the U.S. economy plunged to a record low this quarter among chief financial officers. CFOs expect slow growth in earnings, capital spending and acquisitions and no growth in hiring. They are very concerned about weak consumer demand, rising labor costs and credit markets.
These are some of the conclusions of the September 2007 Duke University/CFO Magazine Business Outlook survey, which asked CFOs from a broad range of global public and private companies about their expectations for the economy. The survey, concluded Sept. 7, generated responses from 1,316 CFOs, including 580 from the U.S., 181 from Europe, 175 from Asia (not including China) and 380 from China. The...
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