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CFO SignalsTM: 2013 Q2 Results

An air of optimism

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Highlights: CFO SignalsTM Q2

On the face of things, this quarter seems a lot like the last. Companies are performing relatively well, but they’re still doing it mostly through tight cost management and intense business focus – and not by riding waves of growing customer demand. The most acute risks in Europe and the U.S. still appear averted, but Europe remains dragged down by tight credit and balance sheet repair. Growth in North America and China, while relatively steady, has not been strong enough to markedly bolster domestic hiring or investment. And, CFOs are still wary of the near- and long-term effects of monetary, fiscal, and regulatory policy worldwide.

But, despite all these similarities, this quarter feels notably different. CFOs’ responses seem to indicate an air of optimism that has been mostly absent for well over a year. Perhaps the best news is that CFOs mostly see North America’s economies as healthy, and they are particularly bullish about where they will be next year. And, at a company level, more are positive about their own prospects than has been the case since the first quarter of 2012.

But, also apparent in this quarter’s findings seems to be the notion that, even though their appetite for risk and growth is increasing, companies’ approaches will be as measured and methodical as those that have helped them preserve earnings over the past several years. Continued reluctance to accelerate longer-term investments and a maintained focus on shoring up key risks both serve as reminders that downside risks are still a strong concern and that flexibility remains a valued asset.

What else are CFOs saying? Download the 2013 Q2 CFO Signals report at the top of this page to find out.

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Related links

  • Deloitte CFO Signals™ survey
    Press release: Second quarter 2013 survey results.
  • CFO SignalsTM
    What North America’s CFOs are thinking – and doing.
  • CFO Journal
    Deloitte writes and compiles a regular stream of CFO-centric content and timely features which appear in a separate module of CFO Journal, an online publication from The Wall Street Journal.
  • Subscribe to CFO Insights
    Dedicated to addressing the issues that CFOs and finance executives face today.

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