US Economy outlook from CFO perspective

After months of steady decline, the economic outlook can now only be described as bleak. Speaking at CFO's annual CFO Rising conference last month, veteran finance chief Jerry York said, "It's going to be a very bad recession, perhaps the worst I've seen in the 46 years I've been working." A majority of finance chiefs are similarly gloomy.

Optimism among finance executives reached a new low in this quarter's Duke University/CFO magazine Global Business Outlook Survey, with 72 percent of CFOs more pessimistic about the economy than they were last quarter and only 8 percent more optimistic. Pessimists outnumber optimists nine to one. CFOs also expressed less optimism about their own companies than ever before.

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