Credit lines and financial conditions are on their way up, but optimism among British FTSE 100 CFOs is down – although they do admit that their companies have performed better than expected so far this year.
The latest Deloitte CFO survey, which includes responses from 40 FTSE 100 CFOs, also reveals that one in three financial managers see a change of a double-dip recession occurring in the year ahead.
“What emerges from these findings is that financing conditions for larger companies are slowly improving,” says Margaret Ewing, Deloitte partner and vice chairman.
“However, that still leaves corporates with plenty to worry about in terms of the pace of the recovery and the election. CFO sentiment appears to be consistent with the current general mood of uncertainty about the pace of UK recovery and speculation that the general election may deliver a hung parliament.”
Other findings include:
- 85 per cent see reducing public debt as the top economic priority for next government
- 82 per cent expect a sluggish, but sustained recovery
- bank borrowing is back in favour as credit conditions continue to improve
- appetite for financial risk is running at levels last seen in early 2008
You can download the full survey below if you would like more detail.
Deloitte CFO Survey (full report).pdf
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