Confidence in the U.S. economy among chief financial officers has moved up sharply in the span of just a few weeks. Twenty-five percent of U.S.-based CFOs believe the U.S. economy is strongly improving, up from only 5 percent of CFOs who felt that way in the fourth quarter, according to the latest CNBC Global CFO Council survey. Eighty percent of CFOs expect to see modest to significant increases in their earnings growth in the first quarter.
The sharp rise in economic confidence is a counterpoint to the headline uncertainty driven by cyberattacks, weakened consumer demand and terrorism. Overall, 90 percent of CFOs think the U.S. economy is improving, up from 72 percent in the previous quarterly survey. Another 10 percent of CFO Council members described the economy as having stabilized, versus 24 percent of CFOs who described the economy as stable in the fourth quarter. Additionally, no CFOs feel that the U.S. economy is declining, versus 5 percent who felt that way in the last quarter of 2014.