With concerns mounting over the upcoming Presidential election and the Eurozone crisis, CFOs are tempering their optimism about economic growth and relying more on temporary employees in their hiring plans.
The quarterly CFO Outlook Survey from Baruch College of New York and Financial Executives International polled more than 300 CFOs in the U.S., Italy and France on their expectations. In the fourth quarter, CFOs in the U.S. showed little change in overall optimism since the third quarter. Their confidence for the global economy rose slightly to 46.1 (from 45.50 in Q3), as did their confidence in their own businesses (67.60 from 67.30 in Q3). U.S. CFOs reported increased optimism in the U.S. economy this quarter, moving six points to 57.1 (from 51.10 in Q3).
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