CFOs have grown markedly extra hopeful concerning the U.S. economic system over the previous couple of months, with a number of analysis stories portraying the improved optimism.
Amongst 230-plus finance chiefs collaborating in Grant Thornton’s third-quarter poll, 51% mentioned they have been optimistic concerning the well being of the economic system, a robust step up from 39% within the prior quarter.
The findings are directionally much like these revealed by the latest quarterly CFO survey from Duke College’s Fuqua College of Enterprise and the Federal Reserve Banks of Richmond and Atlanta.
As revealed by Grant Thornton’s quarterly survey, the optimism degree amongst CFOs had been falling sharply this yr, after peaking at 68% within the fourth quarter of 2024. The deepening pessimism was largely a results of the blitz of tariff bulletins by the Trump Administration, Grant Thornton indicated in its survey report.
Now, the report noticed, CFOs have adjusted. “Finance leaders have come to know that tariff uncertainty is an element they must take care of, day in and day trip,” mentioned Paul Melville, nationwide managing associate for Grant Thornton’s CFO advisory follow. “They’re even ready for big fluctuations in what the tariff numbers could be…. [They] perceive the sample for a way all this works.”
The latest survey outcomes confirmed wholesome confidence boosts for CFOs throughout a number of key areas.
For instance, 57% of survey contributors reported confidence that they’re assembly their provide chain wants, up 20 share factors from the second quarter. Value-control confidence rose 13 factors to 50%, and confidence in reaching know-how goals, at 66%, was up 14 factors.
Nonetheless, the optimism degree stays properly under its place lower than a yr in the past, and expectations for turbulence stay excessive, in keeping with Grant Thornton. The report famous that 45% of the just lately surveyed finance leaders foresaw a possible for layoffs within the subsequent six months, which was solely a slight enchancment from the 14-quarter excessive reached on this yr’s second quarter.
In the meantime, the survey checked out a key present situation for company finance, particularly tax departments: the affect of the One Large Lovely Invoice Act.
The legislation, total, ought to be helpful to U.S. corporations, however in keeping with Grant Thornton, simply 54% of the surveyed CFOs mentioned they’re assured that their tax perform understands the advantages.
Firms ought to keep away from wanting on the OBBBA’s tax affect in a vacuum, warned Mike Desmond, audit development chief for Grant Thornton.
“You need to take a look at the hospitable surroundings within the U.S. from a tax provisioning standpoint along with the tariff surroundings, know-how and automation developments,” Desmond mentioned.
