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It’s a positive sign when researchers successfully replicate studies, especially when the results show exceptionally good vibes among finance leaders.
Grant Thornton’s Q2 survey revealed that CFOs are more upbeat about the US economy than they’ve been in nearly three years. About three in five (58%) respondents said they were optimistic about the economy, the highest level since Q3 2021.
If those results are giving you déjà vu, that’s because a Fed survey from late March found more or less the same thing. In that survey, CFOs scored their economic optimism at an average of 61 on a scale of 0–100, which turned out to be the highest score since Q2 2021, CFO Brew previously reported.
The good feelings last quarter were apparent even beyond the overall economy. Grant Thornton found that a record high 63% of CFOs were “confident in their organization’s ability to meet increased demand.” Their confidence about meeting growth projections (56%), cost control objectives (55%), and workforce needs (55%) were also “high by historical standards,” according to the report. Respondents were more confident they could meet supply chain needs, up six percentage points from the prior quarter, to 62%.
Also, three-quarters of survey respondents said they expected their company’s net profit to grow over the next year. Nearly seven in 10 expected higher Q1 revenue, while two-thirds predicted that expenses would likely increase.
Grant Thornton polled 234 CFOs in May.