Survey: Majority of US CFOs expect recession in 2020
CFO Survey: Optimism Sinks to 3-Year Low; Recession Expected Before 2020 Election
Professor John Graham directs the world’s most comprehensive research on senior finance executives
U.S. business optimism dropped this quarter to its lowest level in three years, according to third-quarter results from the Duke University/CFO Global Business Outlook.
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About the survey: The Duke University/CFO Global Business Outlook survey has been conducted for 94 consecutive quarters. The survey was conducted from Aug. 27 to Sept.13 and generated responses from more than 500 CFOs, including 247 from North America, 54 from Asia, 67 from Europe, 127 from Latin America and 37 from Africa. The survey of European CFOs was conducted jointly with TiasNimbas in the Netherlands (C.Koedijk@uvt.nl), the France CFO society, and Philippe.DUPUY@grenoble-em.com at GEM. The survey of Latin America was conducted jointly with Fundação Getúlio Vargas (FGV) in Brazil (email@example.com), Universidad EAFIT in Colombia (firstname.lastname@example.org) and with Universidad Andina Simon Bolivar in Ecuador. The Japanese survey was conducted jointly with Kobe University (email@example.com) and Tokyo Institute of Technology, among others. The African survey was conducted jointly with SAICA (KediboneP@saica.co.za).
The Duke University/CFO Global Business Outlook survey polls a wide range of companies (public and private, small and large, varied industries, etc.), with the distribution of responding firm characteristics presented in online tables. The responses are representative of the population of CFOs surveyed. Among the industries represented in the survey are retail/wholesale, mining/construction, manufacturing, transportation/energy, communications/media, technology, service/consulting and banking/finance/insurance. The average growth rates are weighted by revenues or number of employees. For example, one $5 billion company affects an average as much as 10 $500-million firms would. Revenue-weighted mean growth rates are provided for earnings, revenues, capital spending, technology spending and prices of products. Employee-weighted mean growth rates are used for healthcare costs, productivity, number of employees and outsourced employment. The earnings, dividends, share repurchases and cash on balance sheet are for public companies only. Unless noted, all other numbers are for all companies, including private companies.