more-arw search

UK CFOs Becoming Less Pessimistic

UK CFOs Becoming Less Pessimistic

Like their counterparts in the U.S., chief financial officers in the U.K. are becoming increasingly optimistic about their companies' finances as concerns about a recession and a breakup of the euro zone have eased.

According to Deloitte's new survey of U.K. CFOs, optimism among the finance chiefs in terms of their own companies' finances rose during the most recent quarter at the fastest rate since the study began in 2007.

"The worries about the risk of recession and a break-up of the single currency that dominated corporate thinking at the end of last year have eased," Deloitte chief economist Ian Stewart said in a statement. "Stronger financial conditions, reflected in rising global equity markets, are seen to be benefiting larger UK companies, with CFOs reporting an increase in credit availability. This more than unwinds the deterioration in credit availability seen in December which, at the time, some feared could be the start of a second credit crunch."

MarketWatch reports the study included responses from 136 chief financial officers, and only 30 percent expect to see a double-dip recession in the region, down from 54 percent in December.