2011 Q1 Global CFO InsightsDiverging attitudes in the face of volatility? |
The first quarter of 2011 was marked by dramatic changes to the environmental and geopolitical landscape of the world. From the devastating earthquake and tsunami in Japan, to significant political uprisings across the Middle East, Q1 2011 was a quarter of change and volatility. Although these unsettling events have unquestionably weakened the growth in optimism of most respondents globally, on balance, CFO sentiment in the first quarter still reflects a net optimistic outlook.
A dichotomy has emerged between CFO sentiment in the U.K. and North America. Whereas in previous quarters, the net change in optimism among CFOs in both economic centers appeared aligned, Q1 2011 took a sharp divergence. While North American sentiment continued to trend in a positive direction, British outlook dropped significantly, with optimism falling to the lowest levels in two years. Although the cause for this divergence in attitude on both sides of the pond is not clear cut, there are several factors that likely played a role in the responses received in Q1 2011.
Globally, the priority themes in Q1 2011 for CFOs surveyed are:
- Growth
- Acquisitions
- Cost Control
- Risk Mitigation
This edition highlights first quarter 2011 results from 13 participating surveys:
Austria: Returning to normal
Australia: A show of resilience
Belgium: Call for caution
Ireland: A new beginning?
Japan: … and this time we were lucky! (pdf)
Middle East: Resilient optimism in the face of uncertainty
Netherlands: External conditions limit optimism
Norway: Positive outlook
North America: Companies are focused on generating post-recovery momentum
Spain:Confidence in recovery, unfinished business
Sweden: Growth is stabilizing
Switzerland: Sustained confidence
United Kingdom: Optimism down, risk appetite up
Q1 2011 Deloitte CFO Global Insights
(214.23 KB)
