U.S. chief financial officers or CFOs of middle-market companies have grown more positive about the state of their industries and businesses as well as the state of the domestic economy over the last six months, according to the latest middle-market CFO survey by GE Capital.
The survey, which took place during the first quarter of 2012, included responses from 495 CFOs of companies with an average revenue of $143 million operating across seven major industries, including: metals, mining and metals fabrication;food, beverage & agriculture;general manufacturing;healthcare;retail;technology & business services; and transportation.
Looking forward, CFOs are more optimistic than six months ago about growth in the U.S. economy, in their own industry, and about the outlook for their own company.
Ninety-four percent expect the US economy to grow or be stable this year, up 14 points, with 23 percent shifting to a growth outlook. Eighty-seven percent anticipate their industry to grow or be stable this year, even with 6 months ago, with 9 percent shifting to a growth outlook.
Ninety-one percent expect company revenues to grow or be stable this year, with 67 percent seeing an increase, up 5 points. Eighty-one percent expect company profits to grow or be stable in 2012, up 8 points.
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