Deloitte Global CFO Signals™: CFOs report optimistic outlook, looking towards future expansion and growth
New York, 12 June 2013 - For the first time since the start of the economic recovery, many CFOs globally are reporting solid optimism, looking forward with anticipation instead of anxiety, and displaying the confidence to grow both organically and internationally. This is according to Deloitte Touche Tohmatsu Limited’s (DTTL) recent Global CFO Signals Q1 report.
The report, which surveyed CFOs from 16 countries across the globe, found that worries over the currency crisis in Europe and possible slowdowns in China and the United States appeared to have eased. This means CFOs are no longer adopting a wait and see approach, as reported in previous editions; rather they finally have the comfort level to actively pursue expansionary tactics.
“CFOs tend to be cautious by nature, so the fact that this report indicates a more uniform uptick in forward thinking is pretty significant,” said Sanford Cockrell III, Leader, Global CFO Program, DTTL. “It doesn’t appear any longer to be a matter of if, but when and how they will take action. But recent history dictates that any organic growth or M&A efforts will be done strategically and with great diligence.”
Additionally, although the CFOs surveyed revealed a mixed recovery approach by region, four themes emerged when factoring in their outlooks: growth, corporate debt, policy and regulatory implications, and strategy development.
Additionally, while the report found a sense of relief driving optimism, it wasn’t all good news. CFOs’ perceptions of macroeconomic and financial uncertainty in the United Kingdom may have dropped to a two-and-a half-year low, but in Belgium, a quarter of CFOs do not expect growth there before 2015. Also, while CFO sentiment in North America has improved, with earnings expectations up for the United States, in contrast, more than half of China’s CFOs expressed doubt about a recovery in the United States and Europe.
DTTL’s Q1 Signals survey tracked the thinking and actions of CFOs from more than 1400 global companies representing some 16 countries and geographies including North America, Argentina, Australia, and several European countries.
About The Deloitte Global CFO Signals™ Survey
Twenty-four Deloitte member firm CFO surveys, covering 38 countries, are conducted by Deloitte member firms on a quarterly, biannual, or annual basis. The objective of these surveys is to collect CFOs’ opinions on a range of areas including economic outlook, financial markets, business trends, their organizations, and CFO careers. The focus and timing of each member firm’s survey varies.
About The DTTL CFO Program
The Deloitte Touche Tohmatsu Limited (DTTL) Global Chief Financial Officer (CFO) Program is a CFO-centric strategic initiative that brings together a multidisciplinary team of senior Deloitte member firm partners and experienced professionals to help CFOs effectively address the different challenges and demands they experience in their role. The DTTL Global CFO Program and network of Deloitte member firms harness the breadth of Deloitte member firms’ capabilities to deliver forward thinking perspectives and fresh insights to help CFOs manage the complexities of their role, drive more value in their organization, and adapt to the changing strategic shifts in the market. For more information about the DTTL Global CFO Program, please contact firstname.lastname@example.org or visit www.deloitte.com/cfoconnect.
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