Canadian CFOs Are Optimistic

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    Canadian CFOs report financial strength and spending are on the rise, says the seventh annual ‘American Express/CFO Research Global Business & Spending Monitor.’ Almost half (48 per cent) of Canadian CFOs surveyed reported very good financial performance over the past year and 76 per cent expect to see expansion over the next 12 months, a 14 per cent rise from last year and a 53 per cent increase from 2009. This confidence also appears to translate into spending as 73 per cent of CFOs in Canada forecast moderate to aggressive spending and investment in the coming year. Meanwhile, for the first time in years it seems European economies are ready to leave the global recession behind and see opportunities for growth and expansion. European confidence this year surged, with 68 per cent of senior finance executives predicting economic expansion. This is an increase from last year’s 48 per cent, which was the lowest percentage of respondents predicting expansion since 2009, the highest point of the recession.