BusinessCompany NewsMost CFOs believe credit crunch will worsen

Most CFOs believe credit crunch will worsen

The latest Deloitte survey reveals two-thirds of CFOs think the credit crunch will get worse

The latest
Deloitte
survey of finance directors show more seven out of 10 UK chief financial
officers believe the credit will get worse.

An overwhelming majority of 83% said credit was now hard to obtain, up from
63% in March and 48% in September last year.

‘The squeeze on liquidity is increasingly transmitting itself to the
corporate sector through a reduced supply and rising cost of credit,’ Margaret
Ewing, Deloitte partner and vice chairman, said.

Finance directors are also less confident about the outlook for corporate
earnings and 56% believe corporate earnings will grow more slowly than the
average 5% rate expected by City analysts, the report said.

Related Articles

M&S business rate liabilities based on £570m rateable value

Company News M&S business rate liabilities based on £570m rateable value

4m Emma Smith, Managing Editor
BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

8m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

12m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

1y Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

1y Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

1y Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

1y Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

1y Emma Smith, Managing Editor