Dun & Bradstreet Composite CFO Optimism Index declined most in six quarters: D&B India’s CFO survey
Only 28% of CFOs stated need for raising short-term funds and 25% for long-term funds
Mumbai, January 30, 2017: Dun & Bradstreet, the world’s leading provider of global business information, knowledge and insight conducted a pan India survey of corporate CFOs in which they were asked about their confidence in the overall financial and macro-economic conditions for Q1 2017 (Jan-Mar of the calendar year 2017), as compared to the same quarter of the previous year. The survey reveals how optimistic the CFOs are with respect to the overall financial health of their respective companies, the business risk environment and the macroeconomic scenario in the country. The survey also tried to capture the CFO’s viewpoint regarding adoption of technologies.
The survey revealed interesting facts about CFOs’ perspective on the overall Business Climate:
Commenting on the findings of the survey, Arvind Raghav, Director, Dun & Bradstreet India stated that “The optimism of the CFOs for Q1 2017 declined most in six quarters as compared to seven quarter high recorded in Q6 2016. The slump in the optimism level has been led by deteriorating confidence for the overall macroeconomic scenario, especially the domestic one. The survey has been conducted in the month of December 2016, at a time when the domestic economy was reeling under the unanticipated demonetisation drive taken by the government. The shock of demonetisation that had macroeconomic and supply chain effects, which policy-makers even struggled to foresee, led to heightened business uncertainty, impacted adversely the balance sheet of MSMEs and dented the growth prospects for India. India’s overall growth projections for FY17 and FY18 has been revised downwards unanimously by various agencies including the Indian government. Depreciation in rupee, firming-up of global commodity prices including crude oil, rising risks to the banking sector primarily on account of deteriorating asset quality have also played a major role in weighing down the optimism levels among the CFOs. Going ahead, the announcements in the Union Budget for 2017-18 will set the tone and the direction for corporates to frame their expectations for the upcoming year”.
About Dun & Bradstreet (D&B):
Dun & Bradstreet (NYSE: DNB) grows the most valuable relationships in business. By uncovering truth and meaning from data, we connect customers with the prospects, suppliers, clients and partners that matter most, and have since 1841. Nearly ninety percent of the Fortune 500 and companies of every size around the world, rely on our data, insights and analytics.
Customers use D&B Risk Management Solutions to mitigate risk, increase cash flow and drive increased profitability; D&B Sales & Marketing Solutions to manage their master data, analyse markets, locate prospects and increase revenue from new and existing customers; D&B Economic Analysis Group for solution-oriented analyses of strategic economic and business developments, thereby aiding informed decision making and D&B Learning Solutions to facilitate professional growth and excellence among their executives.
In 2015, D&B featured on the World’s Most Ethical Companies list in the Business Services category by Ethisphere, for the seventh consecutive year. The World’s Most Ethical Companies designation recognizes companies that truly go beyond making statements about doing business “ethically” and translates those words into action.