CFOs’ long-term outlook for the North American economy remains strong despite their weakening confidence in their own companies’ prospects, according to Deloitte. Lower expectations for growth in revenue, earnings, and domestic hiring appear to be behind this declining sentiment.
Surveyed CFOs are concerned about a number of internal and external risks. Externally, issues that continue to be challenging for CFOs include global economic concerns like risks associated with trade and FX impacts of central banks’ monetary policies.
CFOs believe rising commodity prices and the burden of government regulation are priority concerns as well. From an internal standpoint, attracting and retaining finance talent remains an ongoing issue. More than 70 percent of CFOs cite initial shortages of consultative, partnering, analytical and technical skills among staff.
Crisis preparedness is another issue weighing on CFOs this quarter, with cyber-security attacks cited as the most threatening potential crisis.
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