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Politics : Don't Blame Me, I Voted For Kerry
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To: ChinuSFO who wrote (11100)3/31/2004 3:16:27 PM
From: JakeStrawRead Replies (1) of 81568
 
"Chief financial officers of U.S. companies predict higher levels of capital spending and employment growth than they have for more than three years, according to
the March quarterly "CFO Outlook Survey," conducted by Financial Executives International (FEI) and Duke University's Fuqua School of Business.
An increase in capital spending is expected at 69 percent of companies
over the next 12 months, with an average increase of 11 percent, more than
double the 5 percent increase expected last quarter. This quarter's cap-ex
forecast is dramatically higher than predictions of just a year and a half ago
when companies were looking at a contraction in spending.
In another positive trend, CFOs predict strong employment growth. Nearly
three-fourths of the surveyed companies plan to increase the number of their
employees in the coming year, while only 7 percent expect to reduce
employment. Overall, the number of employees should increase by a robust
5 percent. This is a significant improvement over expectations of the past
three years when forecasts ranged from a decline to less than 2% growth.
"CFOs hold the corporate purse strings," noted Colleen Sayther, President
and CEO of FEI. "Most have been managing in an environment where spending at
a 'normal' rate was not the norm, and spending 'ambitiously' was virtually
non-existent. Their predictions this quarter about an improvement in capital
expenditures is very good news for the economy, and combined with their
predictions about employment levels, very good news for the nation's workforce."

prnewswire.com
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