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Area Development

2010 U.S. Manufacturing CFO Outlook

12-10-2009
Although manufacturing company CFOs are clearly concerned about the future of the U.S. economy, Bank of America's 12th Annual 2010 CFO Outlook shows that they continue to believe in the ability of the marketplace to weather the storm.

Despite giving the current economy low marks, financial executives at U.S. manufacturers are more optimistic than in recent years about the nation's economic outlook: 66 percent believe the national economy will expand in 2010, more than double the 31 percent who cited expansion in last year's survey.

This cautious optimism is aided by the fact that 61 percent of respondents expect revenue growth in 2010, and 88 percent cite the actions taken by the Federal Reserve Board over the past year as having helped the U.S. economy, a significant increase since last year's 64 percent. Consistent with this optimistic view, 59 percent of manufacturing company CFOs forecast expansion in the manufacturing sector in 2010 - more than double the 25 percent who predicted expansion last year.

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