"Deloitte's survey places CFO confidence at a six-year low, with geopolitics once again cited as the single greatest external threat. The firm's chief economist, Ian Stewart, said the Middle East conflict had delivered a genuine shock, dragging optimism back to the darkest days of the pandemic."
"BDO's figures tell a similarly bleak story. Business output contracted last month for the first time since February 2021, with services and manufacturing bearing the brunt. Scott Knight, the firm's head of growth, pointed to soaring energy and commodity prices as the principal culprits."
"Higher commodity costs are eroding manufacturers' margins, while both businesses and consumers have begun tightening their belts in anticipation of rising inflation. Deloitte found that business leaders are most anxious about the war's impact on energy prices, inflation and interest rates."
CFO confidence in Britain has reached a six-year low, driven by the war in Iran and its impact on corporate sentiment. Deloitte's survey indicates that finance leaders are prioritizing cash conservation and cost-cutting in response to geopolitical tensions. BDO's output index shows a contraction in business activity for the first time since February 2021, with rising energy and commodity prices exacerbating the situation. The labour market is also affected, with employment levels dropping significantly as firms brace for inflation and economic uncertainty.
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