Optimism is growing among the CFOs who believe the U.S. will see growth over the next six months. A survey of Midwestern U.S. CFOs and senior comptrollers conducted by Grant Thornton LLP, shows that 43% have a rosy outlook compared to 33% from a survey taken six months ago.
However, results also indicate that inflation may be in the offing, with 57% of respondents saying their company intends to raise prices for its goods, up from 37% six months earlier and 27% one year ago.
More than half of Midwestern CFOs (55%) reported that they were concerned about the price of raw materials (food, metals, etc.), up from just 25% six months ago, and an additional 48% said they were concerned about the price of energy, up from 26% six months ago.
While hiring is still tepid, 40% of Midwestern CFOs intend to increase head count (up from 28% six months earlier), and 58% are optimistic about their own companys financial prospects over the next six months (up from 48%).
Regarding the Japan disaster, 94% say it will impact the U.S. economy and the majority believes that Japan will not fully recover for at least 3-5 years.
Grant Thornton LLP conducted the biannual national survey from March 22 through April 6, 2011, with 318 U.S. CFOs and senior comptrollers participating, of which 67 were from the Midwest Region -- Illinois, Indiana, Iowa, Michigan, Minnesota, Missouri, North Dakota, Ohio, South Dakota and Wisconsin.
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