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Deal or no deal, that is the question

Deloitte CFO Survey: 2018 Q3

October 2018

The quarterly CFO Survey is firmly established with media and policy makers as the authoritative barometer of UK corporates’ sentiment and strategies. It is the only survey of major corporate users of capital that gauges attitudes to valuations, risk and financing.

Key findings

  • Concern over long term impact of Brexit at record high, with falls in optimism and risk appetite
  • CFOs increasingly expect business spending and hiring to slow post-Brexit
  • Higher interest rates and inflation expected within twelve months

Explore the data

Download the PDF to access all the historical data series from the Deloitte CFO Survey. Data from the CFO Survey is also hosted on Thomson Reuters Datastream, Bloomberg, Factset and Macrobond. Please feel free to use any of the data series in your documents or presentations.

Email Rebecca Porter to receive a copy of our spreadsheet containing our CFO Survey data. 

“With the UK’s planned departure from the EU less than six months away Brexit worries dominate our latest survey of UK Chief Financial Officers.

“CFOs have become more pessimistic about the long term effect of the UK’s departure from the EU. 79% expect Brexit to lead to a deterioration in the business environment and only 6% anticipate that Brexit will result in an improvement in the business climate compared with 14% a year ago. Large corporates are pulling in their horns, with just 12% of CFOs saying now is good time to take a risk and 44% expecting their own capital spending to be lower over the next three years.

“Indeed, CFOs are more negative about the effects of Brexit today than at any time since the EU referendum.”

Ian Stewart, chief economist at Deloitte

“The drop in business confidence highlights the effect a possible no-deal Brexit is having on businesses across the UK. A deal and smooth transition could deliver a real boost to business spirits.

“Our survey shows that access to skills is an increasingly pressing issue. It’s crucial that a post-Brexit immigration system ensures that business has the skills it needs to thrive.”

David Sproul, senior partner and chief executive at Deloitte

Previous editions

The Deloitte CFO Survey: 2018 Q2
Defensive and watchful

The Deloitte CFO Survey: 2018 Q1
Brexit transition boosts business confidence

The Deloitte CFO Survey: 2017 Q4
Focus on cost control, no retreat on growth

The Deloitte CFO Survey: 2017 Q3
Optimism bounces

The Deloitte CFO Survey: 2017 Q2
Post election dip in business confidence

The Deloitte CFO Survey: 2017 Q1
Brexit shock eases

The Deloitte CFO Survey: 2016 Q4
Greater optimism yet to ignite risk appetite

The Deloitte CFO Survey: 2016 Q3
Brexit looms large

The Deloitte CFO Survey: 2016 Q2
Brexit blow to business confidence

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