Powered by MOMENTUM MEDIA
subscribe to our newsletter
Chinese economy fears erode CFO confidence

Chinese economy fears erode CFO confidence

A Deloitte survey has found that China’s economy is now a clear source of concern for Australian chief financial officers.

The Deloitte CFO Survey – Q3 2015 found that after consecutive quarters of strong increases in optimism, confidence appears to have plateaued among Australia’s CFOs.

Deloitte managing partner Sydney Dennis Krallis said what had been an encouraging positive trend in terms of greater optimism since the beginning of 2015, and after an ordinary 2014, has now slowed.

Advertisement
Advertisement

“Local and global uncertainty hadn’t been a particularly strong influence on CFO optimism in the first half of the year, but news regarding slower growth coming out of China, and its scale and relevance to Australia, now appears to be hitting a nerve,” Mr Krallis said.

According to the report, 68 per cent of CFOs reported that news from China was a negative influence on optimism, the most downcast response since early 2013, when China released its worst growth figures in nearly 15 years.

“Now, growth figures have fallen below those levels, and with global growth depending heavily on China’s smooth economic transition, it’s perhaps not surprising that uncertainty has re-emerged,” Mr Krallis said.

Chinese economy fears erode CFO confidence
mortgagebusiness

 

Latest News

Bank of Queensland's chief financial officer has resigned from his post to "pursue other leadership opportunities", effective October 2019. ...

A 16.4 per cent slump in new home loan volumes has been reported by APRA, contributing to a 12.6 per cent fall in profits.   ...

Small business loan marketplace ebroker has received a $1 million investment from Tor Capital, whose head has now become the platform’s ch...

FROM THE WEB
podcast

LATEST PODCAST: Movers and shakers

Do you think the banking royal commission recommendations could negatively impact competition in the mortgage market?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.