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Corporate caution, financial market optimism

Deloitte CFO Survey: 2019 Q2

July 2019

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

  • Risk appetite among CFOs fell to its lowest level since 2008;
  • Brexit remains the top concern for CFOs, with 83% believing it will lead to a worsening in the economic environment in the long term;
  • Almost half of CFOs say that recruitment difficulties have risen in the last three 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 Tom Simmons to receive a copy of our spreadsheet containing our CFO Survey data.

“The hesitant mood captured by the CFO Survey is in marked contrast to the buoyant spirits recently on display in financial markets. Meanwhile measures of financial market volatility have declined, even though a majority of CFOs rate uncertainty as being at high or very high levels. The downbeat mood of UK CFOs, one that is also on view in the German IFO and the US ISM surveys, suggests business is less sanguine.”

Ian Stewart, chief economist at Deloitte

“The continued challenging and uncertain macro-economic environment is weighing on the corporate sector and its job creation and investment plans. Companies are looking for more certainty around our country’s economic future, as they prepare themselves for a post-Brexit environment.”

Richard Houston, senior partner and chief executive of Deloitte North and South Europe

Previous editions

The Deloitte CFO Survey: 2019 Q1
The dash for cash

The Deloitte CFO Survey: 2018 Q4
Cost is king

The Deloitte CFO Survey: 2018 Q3
Deal or no deal – that is the question

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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