Data & Results
Dec. 4, 2024
CFO optimism about the economy jumped this quarter, following the recent presidential election. However, chief financial officers expressed post-election concerns about monetary policy, inflation, the political climate, and tariffs.
This quarter, about half of the 515 respondents were polled in a pre-election survey that closed November 4. The other half responded to a post-election survey that ran November 6-19.
Download Current and Historical Data
View Current and Historical Special Questions
Key Results Summary
| CFO Optimism | Q4 2024 | Q3 2024 |
|---|---|---|
| Optimism about own company (0 to 100) | 71.2 | 69.4 |
| Optimism about the U.S. economy (0 to 100) | 65.9 | 60.6 |
| Note: Q4 2024 data in the table reflect results for 511 to 514 U.S. firms responding to the Q4 2024 survey (October 21 – November 19, 2024). Results from the Q3 2024 survey (August 19 – September 6, 2024) are shown for comparison (for 479 firms). Mean optimism values are unweighted. | ||
| CFOs' Growth Expectations for Their Own Firms, by Response Quarter | Q4 2024 | Q3 2024 | ||
|---|---|---|---|---|
| Mean (and Median) Expected Year-Over-Year Percentage Change for Calendar Years | 2024 | 2025 | 2024 | 2025 |
| Revenue | 5.6% (4.0%) | 7.0% (5.0%) | 4.9% (3.2%) | 7.1% (5.0%) |
| Price | 3.3% (3.0%) | 3.6% (3.0%) | 3.4% (3.0%) | 4.0% (3.0%) |
| Unit Cost | 3.9% (3.0%) | 3.7% (3.0%) | 4.1% (4.0%) | 4.0% (3.0%) |
| Employment (full-time) | 4.9% (1.9%) | 3.5% (2.4%) | 5.6% (1.5%) | 3.2% (2.2%) |
| Average Wage | 4.2% (4.0%) | 3.9% (3.5%) | 5.3% (4.0%) | 5.2% (4.0%) |
| Note: Q4 2024 data in the table reflect results for 467 to 506 U.S. firms responding to the Q4 2024 survey (October 21 – November 19, 2024). Results from the Q3 2024 survey (August 19 – September 6, 2024) are shown for comparison (for 427 to 472 firms). Revenue, Price, and Unit Cost are weighted by sales revenue. Employment and Average Wage are weighted by employment. These data are also winsorized at 5% to remove the potential influence of extreme values. | ||||
| Expectations for Real GDP Growth Over Next Four Quarters, by Response Quarter | Q4 2024 | Q3 2024 |
|---|---|---|
| Weighted Mean | 2.3% | 1.9% |
| Weighted Median | 2.3% | 2.0% |
| Probability of Negative Growth (mean share of probability on bins below zero) | 8.5% | 12.6% |
| Note: Q4 2024 data in the table reflect results for 476 U.S. firms responding to the Q4 2024 survey (October 21 – November 19, 2024). Results from the Q3 2024 survey (August 19 – September 6, 2024) are shown for comparison (for 443 firms). Responses are weighted by sales revenue. | ||
Please refer to the full results for Q4 2024 and The CFO Survey Methodology for more information.
Subscribe to The CFO Survey
Receive an email notification when The CFO Survey updates are posted online.