CFOs See Higher Costs and Lack of Skilled Labor; Reduce Outlook for Growth
“The share of firms with abnormally large increases in the majority of their costs doubled since the second quarter of last year, from 26 percent to more than 52 percent,” said Atlanta Fed economist Brent Meyer. “More than 80 percent of firms expect cost pressures to persist into next year, and around a third expect these pressures to last longer than a year. It’s not surprising to see real GDP growth expectations decrease in a time of heightened uncertainty when supply issues are persistent.” View the full results >
Learning About Inflation and Cost Pressure From Financial Leaders
In the third quarter 2022 CFO Survey, more firms reported elevated cost increases than in past quarters, although expectations for the duration of the higher-than-normal cost pressures have ebbed since 2021. Firms indicated that they are able to pass a larger chunk of those cost increases on via price increases than they were at the end of last year.
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