Survey: 97 Percent Of CFOs See Economic Downturn In 2020

Survey: 97 Percent Of CFOs See Economic Downturn In 2020

Deloitte’s quarterly survey of nearly 150 chief financial officers shows 97 percent believe that a downturn (recession or slowdown) has already begun or will occur by the end of 2020.

At this time last year, 88 percent felt there would be a downturn by December 2020.

Today, 43 percent believe consumer spending will be strong in 2020, while last year that number was 54 percent.

Only 22 percent say they expect to see strong business spending this year compared with 32 percent who thought spending would be strong in 2020.