In stark contrast to recent findings in a survey of CEOs by the Business Roundtable, optimism among chief financial officers about the U.S. economy plunged to a record low this quarter, driven by growing concern about weak consumer demand, high fuel costs, rising labor costs and credit markets. This pessimism will slow growth in earnings, capital spending, and hiring.
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These are some of the conclusions of the year-end 2007 Duke University/CFO Magazine Global Business Outlook survey, which asked CFOs from a broad range of global public and private companies about their expectations for the economy.
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Summary of Findings:
- Optimism reached its lowest point since the optimism index was launched six years ago. Pessimists …
