BusinessCompany NewsCFOs fear ‘double dip’ economy

CFOs fear 'double dip' economy

Despite optimism about their own company's finances, CFOs still worried about economic conditions

The UK’s top CFOs fear that the economy could face a second dip, despite
being at their most optimistic about their own company’s future for two years.

Deloitte’s
CFO survey
found that 48% of respondents were concerned the economy
could slump again. However optimism for their company’s financial prospects is
at its highest since the survey began two years ago.

Four out of five said the banking system was strong enough to sustain the
economy.

“On the one hand, the degree of financial risk facing the corporate sector
has fallen as the financial system has stabilised. The strategies adopted by
CFOs to deal with the recession have also paid dividends, particularly those
focussed on controlling costs, boosting cash flow and staying close to
investors,” said Margaret Ewing, Deloitte partner and vice chairman.

“On the other hand the outlook for the economy remains uncertain and fears of
a “double dip” are widespread. Credit conditions have improved, but they remain
difficult.”

Further reading:

CFOs ‘cautious yet optimistic’,
says Deloitte

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