More than half of the western region CFOs interviewed for a newly-released biannual survey measuring economic trends, see the financial prospects of their companies improving over the next six months – and almost one-third intend to ramp up their hiring.
The survey, conducted by Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd. reflected solid optimism from the 318 Chief Financial Officers and senior comptrollers participating from the nation as a whole. Thirty-nine were surveyed from the 12 western states, including Hawaii.
The survey showed that 56 percent of the CFOs and comptrollers were optimistic about their companies’ futures, up from 48 percent six months ago. The survey took place between March 22 and April 6.
In reflecting on the earthquake and tsunami in Japan, 93 percent of those surveyed across the nation said the Japanese disaster will impact the U.S. economy. Thirty-six percent said they expected it to take 1-3 years for the Japan economy to fully recover; 31 percent said they expected it to take 3-5 years and 26 percent said they thought it would take more than five years.
The survey discovered these other western trends:
- 38 percent of those surveyed in the western states say the U.S. economy will improve over the next six months compared to 28 percent six months earlier.
- 51 percent say their companies are intending to raise prices for their goods, up from 30 percent six months earlier and 22 percent a year ago. That indicates an increase in inflation.
- 55 percent were concerned about the price of raw materials like food and metals, up from 26 percent six months earlier.
- 39 percent said they were concerned about the price of energy, up from 22 percent six months earlier.