Most of the U.S. manufacturing and service company CFOs responding to a Bank of America Merrill Lynch survey believe the U.S. economy will expand in 2011. The results of the survey were discussed recently at the 2011 CFO Outlook Webcast. Among the results presented:
• When we asked to rate the U.S. economy on a scale of 1-100, CFOs gave it a score of 47, up from 44 last year.
• The world economy scored 51.
• When asked if they thought the U.S. economy would expand, contract, or stay the same in 2011, 56% said they believe it will expand.
In terms of employment, the CFO results showed 47% of companies expecting to hire additional full or part time employees in 2011. In 2010, when the survey asked the question only of manufacturing companies, only 28% forecast hiring. Only 6% are expecting to cut payrolls in 2011, compared to 9% in 2010.
The results came from Bank of America Merrill Lynch's survey of 801 financial executives representing manufacturing and service companies across the United States. The survey was conducted by an independent research company from Sept. 20, 2010, through Oct. 29, 2010.
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