Deloitte released the results of its Q2/20 edition of its CFO Signals Survey. Participating CFOs represent diversified, large companies averaging over $10B in annual revenue.
Global economic perceptions have dropped to all-time lows
Perceptions of North America fell drastically, with just 1% of CFOs rating current conditions as good (80% last quarter), but 58% expecting better conditions in a year (up from 35%). Europe’s numbers were also down sharply, coming in at 1% and 33%. Perceptions of China’s current conditions fell slightly to 9%, and expectations for a year from now rose sharply to 51%.
Optimism around reopening remains distant
CFOs’ initial optimism about near-normal operations has faded, with 60% now saying this milestone will not be reached until 2021 or later. CFOs are mostly optimistic regarding their companies’ ability to resume on-site work on at least a limited basis. Just under half say they will resume on-site work as soon as governments allow it, while 43% say their efforts to work on-site will be limited by expectations of a fall resurgence.