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Survey: CFOs split on economic recovery

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In a biannual survey conducted March 22-April 6 by Chicago-based accounting and advisory firm Grant Thornton LLP, chief financial officers and senior comptrollers throughout the Midwest were nearly split in their views of national economic recovery.

Of the 67 survey respondents from Missouri and nine other states, 43 percent felt the U.S. economy would improve during the next six months, 46 percent thought the economy would stay flat and 10 percent responded that the U.S. financial picture would worsen, according to a news release.

However, 58 percent of respondents expect their company's financial prospects to improve during the next six months, while 34 percent said their companies' financials would remain the same and 8 percent responded that they would get worse.

Asked what type of pricing pressure they are most concerned about, 75 percent of respondents checked employee benefits, 55 percent checked raw materials, 48 percent said energy costs and 15 percent responded company insurance. Respondents were allowed to check multiple items for the question.

Other survey highlights:
  • The majority of those surveyed, 57 percent, responded that their companies' prices or fees would increase during the next six months, 43 percent said they would not change and 0 percent felt prices would drop.
  • Concerning employment, 40 percent of respondents said their companies would increase employees during the next six months, 46 percent said their companies would stay the same and 13 percent said their companies would drop employees.
  • Of the respondents, 54 percent felt there could be a "double-dip" recession, while 46 percent responded against the idea.
Grant Thornton LLP is the U.S. arm of Grant Thornton International Ltd.[[In-content Ad]]

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