Last week Bank of America Merrill Lynch released the full results from its 13th annual CFO Outlook Survey. Below please find highlights regarding the key findings, along with a link to the full report, a press release on the findings and link to a webcast on the survey which includes a roundtable discussion with David Darnell, president of Global Commercial Banking, Bank of America and three CFOs.
Almost half of companies (47%) are planning to hire additional employees in 2011, up from 28% last year, according to the CFO Outlook survey by Bank of America Merrill Lynch. Among respondents, 44% have plans to hire permanent employees, while 13% plan to add contract employees. (Some expect to hire both types).
CFOs of U.S. companies continue to have a critical view of the U.S. economy, giving the economy an average score of 47 on a scale ranging from 0 (extremely weak) to 100 (extremely strong). This is up slightly from last year’s score of 44, which was the lowest in the 13-year history of the CFO Outlook. When asked what will have the biggest impact on the economy in 2011, CFOs ranked the following: Healthcare Reform (54%), Budget Deficit (52%) and the Housing Market (42%).
Amid this cautious view of the current economic climate, 56% of all CFOs are forecasting expansion for the U.S. economy in 2011. That’s down from 66% who last year predicted growth in 2010.
The CFO Outlook webcast featuring a review of the surveys key findings with the following:
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