John Elliott, dean of Baruch’s Zicklin School of Business, and Terrence Martell, Zicklin’s Saxe Professor of Finance, look at results of the 2011 second-quarter “Chief Financial Officers Outlook Survey,” compiled by Financial Executives International and Baruch College’s Zicklin School of Business. Optimism in the global economy dropped among CFOs, and executives are extending forecasts for the start of a U.S. economic recovery by more than a year, to the second half of 2012 or beyond. The survey for the quarter was conducted just as U.S. debt-ceiling discussions were taking place, and before Standard & Poor's announced its decision to reduce its U.S. credit rating.
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