Survey: CFOs becoming more risk averse

CFO confidence fell dramatically in the second quarter of the year amid economic and geopolitical uncertainty, according to a new report from Deloitte. 

In the survey firm, about 33% CFOs said they believe now is a good time to take on more risk, down from 60% who expressed the same view in the first quarter. The number is at its lowest level since the third quarter of last year. 

Deloitte’s study found that just 23% of CFOs rate the North American economy as “good now,” compared with 50% in the Q1 survey. Respondents lowered projections for revenue, earnings and capital investments. 

“Growth expectations declined across every key operational metric,” according to a news release from Deloitte. 

The economy topped the list of external risks that are worrying CFOs, with 53% of respondents citing that category, followed by cybersecurity (51%) and interest rates (43%).  

Deloitte polled 200 CFOs in the U.S., Canada and Mexico in June.