CFO survey banner

Deloitte Insights

No quick bounce back

Deloitte CFO Survey: 2020 Q2

July 2020

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

  • CFOs are not anticipating a ‘V-shaped’ recovery
  • Almost half of them do not expect demand to recover to pre-pandemic levels until next summer
  • COVID-19 is the greatest risk facing their businesses; Brexit is third on the risk list, after geopolitics
  • Two-thirds expect to reduce their capital expenditure due to COVID-19 or Brexit

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.

“Major corporates are expecting a long haul back to pre-COVID levels of revenue. Almost half of them believe their own revenues will not recover for at least a year. COVID-19 overshadows all other sources of risk for UK CFOs, and by a wide margin.”

Ian Stewart, chief economist at Deloitte

“While CFOs are still focused on the impact of the pandemic, many are accelerating their adoption of new technologies and adapting their businesses to different ways of working. As the recovery begins, we expect all businesses will be looking for new opportunities and areas of growth.”

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

Previous editions

The Deloitte CFO Survey: 2020 Q1
Crash, slow recovery, lasting change

The Deloitte CFO Survey: 2019 Q4
Business confidence soars

The Deloitte CFO Survey: 2019 Q3
Persistent uncertainty takes its toll

The Deloitte CFO Survey: 2019 Q2
Corporate caution, financial market optimism

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

Did you find this useful?