97% of CFOs expect economic slowdown in 2020January 10, 2020 - 11:22 AMT PanARMENIAN.Net - Chief financial officers at big companies entered 2020 on a cautious note, with almost all anticipating an economic slowdown against the backdrop of an overvalued stock market, according to a survey released Thursday, January 9, CNBC reports. The Deloitte CFO Signals Survey showed that while the corporate leaders see the economy as “good,” they anticipate that before the year is over, conditions will slow. They see consumer and business spending slowing, and 82% anticipate taking more defensive actions, like reducing discretionary spending and headcount, as a way to stave off the looming headwinds. The slowdown is likely to be particularly acute in Europe and China. While 69% of respondents see conditions in North America as good, the number is just 7% in Europe and 18% in China, the latter a three-year low as the country’s shift to a more consumer-focused economy and its trade battle with the U.S. both conspiring to hold back growth. “North America is clearly the place where companies are continuing to increase their investment focus,” said Sandy Cockrell, Deloitte Global CFO program leader. “There’s still a high level of caution.” Deloitte surveyed 147 CFOs from U.S., Canada and Mexico, most from companies that have more than $3 billion in annual revenue. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Erdogan wants “realistic road map” for relations with Armenia Turkish President Recep Tayyip Erdogan has called for a “new realistic road map” for relations with Armenia. Armenia-Azerbaijan: Experts launch work on determining coordinates Expert groups from the countries started the process of determining the coordinates based on geodetic measurements. Yerevan says did not expect CSTO in peacekeeping role Pashinyan has declared that the CSTO would be expected to come to the Armenia-Azerbaijan border as an ally of Armenia Henrikh Mkhitaryan wins Serie A title with Inter Inter Milan midfielder Henrikh Mkhitaryan admits that the team have long been imagining clinching Serie A against AC Milan. |