More Brexit related news crossing, this time from Deloitte's latest quarterly survey of chief financial officers (CFOs)
Via Reuters , main points:
- record 75 percent of major British companies are now pessimistic about Brexit (up from 68% previous survey in April)
- Weak investment and waning expectations for sales
- Deloitte said more large British companies than at any time since late 2012 had adopted a defensive financial strategy
- "Uncertainty about the timing and the nature of the Brexit settlement has added to CFOs' worries about the final destination of the Brexit process," Deloitte Chief Economist Ian Stewart said. "The boost to CFOs' spirits we saw in the last survey, following the announcement of the Brexit transition deal, has been short-lived."
- A net 17 percent of large companies said they expected revenues to rise in the coming 12 months, down from 31 percent in the first quarter of the year
- 10 percent of large companies said increasing capital spending was a strong priority, down from 12 percent in the last survey
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Deloitte survey between June 3 and June 14
- 103 CFOs, including 20 executives from FTSE 100 companies and 45 from the FTSE 250 group
Deloitte's quarterly survey of chief financial officers (CFOs) is watched by the Bank of England as a gauge of business confidence
