Nearly three-quarters of global chief financial officers (CFOs) believe the U.S. economy will remain strong over the next three years, according to a report.
Of the 497 CFOs across 30 countries surveyed by Zurich Insurance Group, EY and the Atlantic Council, 71 percent expected continued improvement in the U.S. business environment over the next three years, while 61 percent "felt confident or extremely confident about investing in the U.S."
This is despite rising calls for protectionism and the renegotiation of long-established trade arrangements by President Donald Trump's administration.
A decade after the financial crisis, corporate players cited global economic recovery, domestic tax reform and deregulation as core factors contributing to the strong sentiment gauged in the report, entitled "Borders vs Barriers: Navigating uncertainty in the U.S. business environment."
The respondents came from all industry sectors in foreign and domestic companies, and roughly half had investments in the U.S.
"A majority — 68 percent — of CFOs say U.S. tax reform will have a positive impact on their bottom line," the report said.
About half of companies benefiting from tax savings said they would use them to re-invest in plants and equipment, while almost two-thirds of those with U.S. employees said they planned to increase their headcount over the next six months.