Data & Results – Q2 2021

July 14, 2021

CFOs Remain Optimistic Despite Concerns About Cost Pressures, Labor Availability

CFOs and other financial decision-makers continue to be optimistic about U.S. economic prospects for 2021. However, when asked about their key concerns, labor availability and cost pressures rose to the top.

Revisions to The CFO Survey Data

CFO Survey data from Q2 2020 to Q4 2024 have been revised in accordance with an annual revision process. Revised historical data are available for download. Comparisons of revised and previously published estimates are also available.

Historical special question results are unrevised and available on archived quarterly results pages.

For more information on the annual data revision process, please refer to The CFO Survey Methodology.

Special Questions on Cost Increases

The second quarter survey included special questions on whether firms were experiencing larger than normal input cost increases. Approximately 80 percent of respondents reported larger than normal cost increases that are anticipated to last for many months. Much, though not all, of this increase is expected to translate into price increases.

For additional discussion of these results, visit our Research & Commentary section.

Note: Data reflect results for 256 U.S. small firms and 63 U.S. large firms (over 500 employees) responding to the Q2 2021 survey (June 21 to July 2, 2021).

Note: Data reflect results from the Q2 2021 survey (June 21 to July 2, 2021). The chart shows responses from 202 U.S. small firms and 54 U.S. large firms (over 500 employees) that indicated they have been experiencing larger than normal cost increases.

Special Questions on Labor Availability

The second quarter survey included special questions on the availability of workers. More than half of the 75 percent of firms that reported challenges finding workers also reported that the worker shortage reduced revenue—a reality that was even more pronounced for small businesses.

For additional discussion of these results, visit our Research & Commentary section.

Note: Data reflect results for 255 U.S. small firms and 63 U.S. large firms (over 500 employees) responding to the Q2 2021 survey (June 21 to July 2, 2021).

Note: Data reflect results from the Q2 2021 survey (June 21 to July 2, 2021). The chart shows responses from 184 U.S. small firms and 51 U.S. large firms (over 500 employees) that indicated they are experiencing difficulty finding new employees.