CFOs are pessimistic

Image via Wikipedia

According to a new study by Duke University and CFO Magazine.

Executives say they expect the recession to last for another year. They also say that earnings, capital spending and employment all will drop in 2009.

Duke says that this quarter’s study, which asked 1,275 CFOs around the world about their expectations for the economy, finds CFOs at their most pessimistic in the survey’s more than 12-year history. Some 81 percent of U.S. CFOs are more pessimistic about the economy now than they were a quarter ago, and almost 60 percent say the U.S. economy won’t recover until the fourth quarter of 2009 or later – with 39 percent saying recovery won’t start until 2010.

CFOs say employment should fall by 5 percent in the U.S. and Europe in 2009. Capital spending will fall by 10 percent in all regions.

Related articles by Zemanta

• CFOs: Recession to last another year
• The printing press at the United States Treasury is going full ..= .
• Report: U.S. economy needs more money, health care fix