CFOs at big U.S. companies entered 2020 on a cautious note, with almost all anticipating an economic slowdown against the backdrop of an overvalued stock market.
Deloitte surveyed 147 CFOs from U.S., Canada and Mexico, most from companies that have more than $3 billion in annual revenue.Among the concerns are trade tensions between the U.S. and China, political turmoil and slowing consumer demand. Net optimism rose from -5% in the last survey to +11 currently, but that's still around the lowest level in three years.
Cockrell said a lasting peace between the U.S. and China would be a big help. The countries are about the sign a phase one trade agreement, but uncertainty over the impact tariffs the two sides have levied and could reinstitute remain problems. "If we can get these trade deals done, that would be the biggest thing," he said. "Uncertainty of having to price your supply chains makes budgeting and forecasting extremely difficult. From a CFO's perspective, naturally they are going to be a bit on the conservative side, which they should be. But if they can get some clarity behind that, I would view that as a tailwind."
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