×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: cfo | finance | optimism | recession

Finance Chiefs' Business Optimism Rises Despite Recession Worries

Finance Chiefs' Business Optimism Rises Despite Recession Worries
(Valiantsin Korznikau/Dreamstime)

Wednesday, 11 December 2019 09:04 AM EST

Most senior finance executives at U.S. businesses believe the U.S. will be in an economic recession by the end of 2020, and 76% predict a recession by mid-2021, according to fourth-quarter results from the Duke University/CFO Global Business Outlook.

But, even with a recession on the horizon, the U.S. firm CFOs lead the world in terms of optimism about the general business environment.

At the company level, firms are taking steps to mitigate the effects of a recession by increasing their cash holdings.

“Hoarding cash and reducing debt are the most obvious tactics to dull the blow of a recession,” said Campbell Harvey, professor at Duke University’s Fuqua School of Business.

Globally, U.S. based firms have the highest degree of optimism about their own company. Capital spending is expected to rise 4.7% and wages are anticipated to grow 4.4%, the largest increases since the first-quarter survey.

Economic uncertainty remains a major concern among CFOs around the world.

The Duke University/CFO Global Business Outlook survey has been conducted for 95 consecutive quarters. The survey period ended Dec. 6 and generated responses from more than 800 CFOs, including nearly 500 in North America, 87 from Asia, 87 from Europe, 139 from Latin America and 40 from Africa.

© Copyright 2022 Bloomberg News. All rights reserved.


Economy
Most senior finance executives at U.S. businesses believe the U.S. will be in an economic recession by the end of 2020, and 76% predict a recession by mid-2021, according to fourth-quarter results from the Duke University/CFO Global Business Outlook.
cfo, finance, optimism, recession
205
2019-04-11
Wednesday, 11 December 2019 09:04 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved