01192020Sun
Last updateFri, 17 Jan 2020 3pm

Manufacturing & The Economy

CFOs More Pessimistic About 2020

According to Deloitte’s quarterly survey, expectations for a U.S. downturn have risen since earlier this year. Now 97% of CFOs saying that a downturn (a slowdown or a recession) has already begun or will occur by the end of 2020 — well up from 88% in the first quarter of 2019. Overall, 12% of CFOs say they believe a downturn has already commenced, and 14% say they already see signs of a downturn in their company’s operations.

In terms of macroeconomic expectations for 2020, CFOs cite falling expectations for consumer and business spending, and two-thirds say performance beyond 2020 will depend substantially on upcoming U.S. elections.

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