Jan 10, 2019

CFOs are pessimistic about global economic growth this year

Data: Deloitte quarterly CFO Signals survey; Chart: Andrew Witherspoon/Axios

North American financial executives are not optimistic about future growth anywhere, Deloitte's new survey of 140 North American CFOs found.

By the numbers: Perception of China has been declining since early last year, but only 24% said economic conditions there were good in the fourth quarter (down from 37% in the prior quarter). Only 12% expect conditions to get better this year.

  • The numbers are worse in Europe where just 7% expected improved conditions in 2019, the worst in the survey's 8-year history.
  • The number of executives banking on better times for the North American economy this year has steadily declined and hit a 5-year low this quarter.

Yes, but: The sharp declines in optimism about the global economy aren't affecting companies' plans for international expansion. In the fourth quarter, CFOs said they were slightly more focused on growing in new geographies than in previous quarters.

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