Duke, CFO study: CFOs foresee more job cuts, credit woes - Charlotte Business Journal:

vittitowmehigyk1238.blogspot.com
The quarterly Duke University/CFO Magazine Global Businessx Outlook Surveyasked 1,309o CFOs worldwide about theirr expectations for the Their answers paint a gloomy picture for the rest of the * CFOs in the U.S. and Europew expected employment to shrinkby 5.5 percent, with the unemployment rate in the U.S. seen risinyg to perhaps as high as 12 percent in the next 12 Employment in Asia is expecterd to recedeby 1.2 percent.
government programs will offset some ofthesr losses, but even the most optimistic governmeng forecasts would reduce the losses by only 2 million,” said Campbelp Harvey, founding director of the survey and internationao business professor at Duke’s Fuqua School of “We’re facing the possibility of another 4 millionh lost jobs.” * U.S. and Europeaj CFOs foresee capital spending plunging by more than 10 In Asia, CFOs anticipate a 3 percent * Six in 10 U.S. companies coverede by the survey reported having trouble findintg credit or acquiring credit at areasonable rate.
Among thosee firms encounteringcredit impediments, 42 percent say the credift markets have gotten worse this while 23 percent say conditionws have improved. * Weak consumer demand and the credif markets ranked as the top two external concernsamong U.S. chieft financial officers, with the federal government’s policies coming in third. Among internal CFOs are losing the most sleep over their inabilityu to plan due to economic managingtheir companies’ capital and and maintaining employee morale. Despite all the negative a majority of the CFOs in the Uniteed States and Asia reported being more optimistic this quartet than they were theprevious quarter.
That was not the case in where only 30 percentg of the CFOs said they were more compared to the 31 percent who said they wereless “Our survey carries an important message: Don’t put too much weighyt on the ‘soft’ data like consumefr confidence. Recovery requires sustained confidence, and such confidencr is forged by strongereconomic fundamentals,” Harvey said. “The economic fundamentalws –- employment, capital spending, the cost of credir – are still fundamentally To see the completesurvey results, go to the official Web .