2023 CFO Outlook: Weak Growth; Wages Trail Inflation
“A 3.3 percent inflation adjustment [to employee compensation] suggests that CFOs expect price pressures to soften somewhat in 2023, but remain above pre-pandemic inflation levels,” said Fuqua professor John Graham, academic director of the survey. “Inflation remains the top worry of CFOs, alongside availability and quality of labor, followed by tightening monetary policy. This list of challenges is causing CFOs to be pessimistic about the overall economy in 2023.” View the full results >
Inflation, Monetary Policy, and the Real Economy
Results from the fourth quarter 2022 CFO Survey indicate that although monetary policy has grown as a key concern for respondents, most note that current interest rate levels have not affected their capital or non-capital spending plans. We also find evidence that if employers were looking to raise wages to account for inflation in 2022, the catch-up was only partial.
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