CFOs Adding Jobs, Optimistic About Expansion: AMEX
CFOs are optimistic about the future but pragmatic when it comes to travel plans.Finance executives continue to be optimistic about economic growth over the next 12 months, with a majority of finance executives planning to hire more employees over the same time period, along with making greater investments in expanded operating capacity, research and development, and mergers and acquisitions, according to the fifth annual American Express/CFO Research Global Business & Spending Monitor, a survey of 541 senior finance executives from the United States, Europe, Canada, Latin America, Asia and Australia. According to the survey, 64 percent of chief financial officers (CFOs) voiced expectations for modest-to-substantial expansion over the next 12 months, but thats lower than in 2011 and 2010, when 75 percent and 71 percent of all respondents anticipated economic expansion, respectively. Almost half (46 percent) of those surveyed said they expect robust growth to return to their countries by the end of the year, led by Hong Kong, Mexico and Germany. Respondents in the United States took a slightly longer view of the situation, with 75 percent of finance executives predicting growth after the end of the year.
Finance executives are looking for ways to stimulate growth, in part by deploying some of the cash that has built up on corporate balance sheets in recent years, Janey Whiteside, senior vice president of global corporate payments at American Express said in a statement. Finance executives also report theyll be keeping a sharp eye on the bottom line, while spending selectively on activities that will drive revenue like sales and marketing and new product development.