Business confidence among Australian CFOs remains steady, but they are also wary about an uncertain Australian economic outlook dominated by inflation and interest rates rise.
According to the latest edition of Deloitte’s biannual CFO Sentiment survey, a net 66% of CFOs are feeling optimistic about the current financial prospects of their company as 2022 draws to a close. The result is similar to the first half of 2022 although challenges in the economic environment mean they are much less confident about the Australian economy.
The survey also found that cyber risks and ESG considerations are top of mind for CFOs as they look ahead to what happens over the next six months with intense interest.
Other key findings (from the survey conducted in mid-late October) include:
Deloitte partner, and CFO Program leader, Stephen Gustafson, said: “CFOs appear to be in two minds. Optimism is holding on the back of its recovery in the first half of 2022 despite back-to-back declines during COVID lockdowns in late 2021 and emerging inflation earlier this year. But confidence about the economy is in very low territory.
“Securing and retaining key talent, inflation and the threat of a global economic recession round out the top three risks identified, while data and cyber security capabilities have emerged as more pressing issues, rising to now be a top four risk of most concern.”