Optimism is on the rise when it comes to economic growth, says the American Express/CFO Research ‘Global Business & Spending Monitor.’ The survey of senior finance executives from the U.S., Europe, Canada, Latin America, Asia, and Australia finds that 50 per cent of Canada’s finance executives plan to support top-line growth this year, while improving profitability through modest spending and investment. Additionally, 31 per cent plan to increase real spending and investment by more than 10 per cent, compared to only 17 per cent of CFOs in the U.S. The survey highlighted further differences between Canadian CFOs and their U.S. counterparts when it comes to optimism. Only nine per cent of Canadian CFOs expect political gridlock and uncertainty to negatively affect economic growth, compared to half (50 per cent) of financial executives in the U.S. who are bracing themselves for the effects that the European recession and political uncertainty will have on their economy. The confidence seen among Canadian executives appears to be impacting their planning cycles as well, with nearly two thirds (63 per cent) of Canadian CFOs claiming they have not shortened their planning horizon in response to increased market volatility in the past two years.
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