CFOs souring on economy, but not their companies

Chief financial officers are going negative on the economy, but more upbeat about their own businesses' prospects, according to a quarterly survey released Wednesday by Deloitte.

Deloitte's 2Q26 CFO Signals report four out of 10 CFOs said the current North American economy is bad or very bad, while fewer than half expect conditions to improve in a year. Inflation again tops CFOs' list of external concerns at 50%, with supply chain disruption — the leading culprit in the previous quarter — following closely behind inflation at 49%. Among internal risks, talent (51%) topped the list, followed by technology deployment (49%). 

On the other hand, company-level optimism is holding up, with nine out of 10 CFOs indicating they're significantly or somewhat more optimistic about their own company's future financial prospects. Nearly six out of 10 CFOs say now is a good time to take on greater risks.

The CFO confidence score on Deloitte's survey declined for the second quarter in a row, falling to the upper end of the medium category.

Most surveyed CFOs made minor adjustments to their growth metrics forecasts this quarter. For example, survey respondents now anticipate revenue growth over the next 12 months to hit 4.5%, about on par with the 4.4% of CFOs in the Q1 2026 forecast. However, respondents anticipate a modest rise in wages and salaries.