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Bank of America Releases Update to CFO Outlook; Confidence Steady

October 12, 2012, 07:34 AM
Filed Under: Economic Commentary
Related: Bank of America, CFO

In the Bank of America Fall Update to the 2012 CFO Outlook, CFOs weigh in on the economy, priorities and prospects for growth.  According to the report, never before has so much weighed on the minds of corporate finance chiefs—from the changing government landscape to uncertain global market conditions. Despite wider concerns, CFOs remain confident on several key fronts.

The report says CFOs currently have the same positive view of both the U.S. economy and sectors as they did earlier this year, in contrast to 2011 when spring optimism steadily declined as economic recovery slowed. In this latest report, U.S. finance chiefs rated the domestic economy 53 out of 100, which is identical to the spring results and reflects a nine-point improvement over the beginning of 2012. Similarly, the U.S. manufacturing (56) and services (62) sectors also continue to receive high marks.

Additionally, the report cites CFOs continue to give the U.S. economy a relatively positive rating, most do not expect further growth this year. Fifty-one percent of CFOs now believe the national economy will stay the same in 2012, while 36% predict economic expansion. Currently, 13% think the U.S. economy will contract in 2012.

Read the full Bank of America Fall Update to the 2012 CFO Outlook.

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