Pessimism was already emerging among European CFOs in the spring. The current analysis by the consulting firm Deloitte (“CFO Survey”) shows that the mood in Austrian companies is continuing to deteriorate. The analysis is carried out every six months. 120 CFOs, including 60 from Austria, took part. The level of uncertainty in Austria is 63 percent. For comparison: in Switzerland it is 90 percent and in Germany 85 percent.
72 percent of domestic CFOs are worried about the ongoing shortage of skilled workers. For 69 percent it is the unclear economic outlook. Added to this are skyrocketing electricity and gas prices (59 percent) and geopolitical risks (56 percent). The risk factors corona and climate change, which were dominant a year ago, have lost their importance in light of this.
Bad investment climate
The Austrian respondents are particularly pessimistic in comparison: They expect an inflation rate of eight percent for 2023 (six percent is expected in the euro zone). The uncertainty is also noticeable when it comes to the willingness to invest: 86 percent expect the situation to deteriorate.
At 56 percent, a majority of CFOs are more pessimistic about the prospects for financial success. In Europe, the average is 60 percent. However, 45 percent assume that sales will increase.
Source: Nachrichten
