The proportion of CFOs who rated U.S. economic conditions as good dropped to a six-year low of 68 percent.
Chief financial officers at major American companies are concerned about the economic impact of President Donald Trump's trade war with China, according to a a third-quarter survey released byvoiced less confidence in North America than in the previous quarter. Regard for the European and Chinese economies was also low.who rated economic conditions in the U.S. as good dropped to a six-year low of 68 percent.
Although only 15 percent of respondents predicted an extended decline in economic activity, a range of metrics in the survey indicated waning CFO optimism. Expectations for year-over-year capital expenditure growth dropped from 7.7 percent to 3.6 percent, matching a three-year low. Projected year-over-year domestic hiring growth dropped from 1.9 percent to 1.6 percent. Expected year-over-year earnings growth declined to 5.6 percent, the lowest mark in the survey's history.
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