Global CFOs more negative on economy, expect big coronavirus hit to their company in 2020: Survey
C-suite executives are increasingly certain about a big hit to their business in 2020 from Covid-19.
Chief financial officers rate the GDP outlook for every world region as declining, according to the second-quarter CNBC Global CFO Council Survey.CFOs of major corporations around the globe are increasingly certain of a negative coronavirus impact on their business in 2020.
The CFOs who responded to this quarter's survey have grown more certain about the negative outlook for their businesses, and more downbeat about the outlook for the global economy, in the three months since CNBC last surveyed them.represents some of the largest public and private companies in the world, collectively managing more than $5 trillion in market value across a wide variety of sectors.
In the first-quarter survey, conducted in March, 30% of CFOs said it was "too early to know" the impact the pandemic would have on their companies this year. Now only one of the 41 CFOs surveyed says it's too early to know, and just two think the impact will be positive for their companies, leaving the overwhelming majority facing down a very tough 2020.
Forty-one of the 130 members of the council responded to the survey, which was conducted from May 14–28 .
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