CFOs shake off uncertainty as confidence climbs
Finance bosses in the UK are feeling increasingly upbeat about the outlook for their businesses and the economy.
According to Deloitte’s latest quarterly survey of chief financial officers in the UK, sentiment has improved “significantly” since the start of the year, with confidence during the first quarter above the long-term average and perceptions of uncertainty falling at the fastest rate since Deloitte first tackled the topic more than a decade ago.
CFOs said supply chain and recruitment problems have eased and their expectations for the inflation outlook over the coming year declined.
Finance bosses in the UK are feeling increasingly upbeat about the outlook for their businesses and the economy.
According to Deloitte’s latest quarterly survey of chief financial officers in the UK, sentiment has improved “significantly” since the start of the year, with confidence during the first quarter above the long-term average and perceptions of uncertainty falling at the fastest rate since Deloitte first tackled the topic more than a decade ago.
CFOs said supply chain and recruitment problems have eased and their expectations for the inflation outlook over the coming year declined.
Nonetheless, risk appetite stood below normal levels, with CFOs and their companies focused on cost control and cash buffers.
Ian Stewart, chief economist at Deloitte, said: “The economic unpredictability that marked the beginning of 2023 has started to clear… Business confidence has rebounded, helped by a decrease in energy prices, an easing of Brexit concerns and an improving inflation backdrop. Crucially, finance leaders report little change in credit conditions, suggesting that March’s events in the global banking system have not affected the pricing and availability of credit for UK corporates.”To send feedback, e-mail tim.burke@eg.co.uk or tweet @_tim_burke or @EGPropertyNews
Photo by energepic.com from Pexels
