News

Historic Recession, Employment and Spending to Plummet

10 December 2008 Global CFO Survey: Companies in crisis mode as finance chiefs expect prolonged recession: earnings, hiring and capital spending to plummet in 2009.

CFO Survey results Q4: confidence in the European economy collapsed in the fourth quarter, sinking to its lowest level in more than a decade. Chief financial officers are slashing forecasts for earnings, hiring and capital spending in 2009. More than half of CFOs think that the regional economy will not begin to recover until 2010. Around the world, CFOs are more pessimistic than they have been at any time in the 13-year history of this quarterly survey. For an overview of the results, see the European press release.