CFOs Take On The Economy

A survey indicated that Chief financial officers CFOs are taking a darker view on the U.S. economy. They have less confidence the growth rate this year.

The Duke University/CFO Magazine Business Outlook found that 30% of CFOs had become more pessimistic on the direction of the U.S. economy. Only 26% were more upbeat, which is near the 5-year low hit in September 2006. A total of 484 U.S. CFOs were surveyed.

The optimism index has dropped to a level that is low by historical standards. With pessimists outnumbering optimists, the prospects for the U.S. economy are poor.

Majority of the CFOs felt that the their main concerns were rising energy prices and slowing consumer demand, driven by the cooling U.S. housing market.