Data & Results
June 20, 2024
Nearly two-thirds of CFOs say their companies have a strategic priority to automate tasks typically performed by employees. Among firms that plan to automate in the next 12 months, a majority expect to implement AI to perform a wide range of tasks.
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Key Results Summary
| CFO Optimism | Q2 2024 | Q1 2024 |
|---|---|---|
| Optimism about own company (0 to 100) | 69.0 | 68.5 |
| Optimism about the U.S. economy (0 to 100) | 60.6 | 60.6 |
| Note: Q2 2024 data in the table reflect results for 447 U.S. firms responding to the Q2 2024 survey (May 13 – June 3, 2024). Results from the Q1 2024 survey (February 20 – March 8, 2024) are shown for comparison (for 436 firms). Mean optimism values are unweighted. | ||
| CFOs' Growth Expectations for Their Own Firms, by Response Quarter | Q2 2024 | Q1 2024 | ||
|---|---|---|---|---|
| Mean (and Median) Expected Year-Over-Year Percentage Change for Calendar Years | 2024 | 2025 | 2024 | 2025 |
| Revenue | 5.5% (5.0%) | 8.0% (5.1%) | 5.8% (5.0%) | 8.0% (5.0%) |
| Price | 4.2% (3.0%) | 4.8% (3.0%) | 4.1% (3.0%) | 4.7% (3.0%) |
| Unit Cost | 4.3% (3.0%) | 4.2% (3.0%) | 4.5% (3.0%) | 4.2% (3.0%) |
| Employment (full-time) | 5.3% (0.8%) | 4.0% (2.4%) | 5.0% (2.1%) | 3.6% (2.5%) |
| Wage Bill | 6.4% (4.0%) | 5.4% (4.0%) | 5.7% (4.0%) | 5.2% (4.0%) |
| Note: Q2 2024 data in the table reflect results for 391 to 440 U.S. firms responding to the Q2 2024 survey (May 13 – June 3, 2024). Results from the Q1 2024 survey (February 20 – March 8, 2024) are shown for comparison (for 391 to 429 firms). Revenue, Price, and Unit Cost are weighted by sales revenue. Employment and Wage Bill are weighted by employment. These data are also winsorized at 2.5% and 97.5% to remove the potential influence of extreme values. | ||||
| Expectations for Real GDP Growth Over Next Four Quarters, by Response Quarter | Q2 2024 | Q1 2024 |
|---|---|---|
| Weighted Mean | 1.8% | 2.2% |
| Weighted Median | 1.9% | 2.0% |
| Probability of Negative Growth (mean share of probability on bins below zero) | 12.6% | 10.0% |
| Note: Q2 2024 data in the table reflect results for 409 U.S. firms responding to the Q2 2024 survey (May 13 – June 3, 2024) and that indicate they are familiar with Gross Domestic Product (GDP). Results from the Q1 2024 survey (February 20 – March 8, 2024) are shown for comparison (for 400 firms). Responses are weighted by sales revenue. | ||
Please refer to the full results for Q2 2024 and The CFO Survey Methodology for more information.
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