Only 38% of CFOs are more optimistic about their company’s financial prospects compared to 57% at the start of 2021.
Inflation, geopolitical tensions, government policies and regulations are among the top external concerns for senior finance leaders, with the emergence of new Covid-19 variants also raising concerns.
The myriad of headwinds has lowered CFOs year-on-year growth expectations for earnings, which have dropped to 9.2% in the first quarter (Q1) of this year, down from 9.6% recorded in the previous quarter, as well as capital spending expectations which have fallen from 5.8% to 5.3% over the same period.
Unsurprisingly, confidence in the world’s economy has also fallen. The recent events in Ukraine and heavy economic sanctions placed on Russia, mixed…