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CFOs Remain Optimistic Despite Concerns About Cost Pressures, Labor Availability
“CFOs expect revenue and employment to rise notably through the rest of 2021,” said Sonya Ravindranath Waddell, vice president and economist at the Federal Reserve Bank of Richmond. “Nonetheless, well over a third of firms anticipated worker shortages to reduce revenue potential in the year. With so many firms unable to find the employees or inputs to meet the demand for their products and services, it is not surprising that respondents anticipated both cost and price increases.”
News Release | Data & Results – Q2 2021
Special Questions on Cost Increases and Labor Availability
Optimism Continued to Grow in Second Quarter
When survey participants were asked between June 21 and July 2 to rate the financial prospects of their firms on a scale from 0 to 100, the average optimism level was 74.9. When asked to rate their optimism about the overall U.S. economy, the average index was 69.0. Both measures increased from the first quarter.
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