East Coast CFOs optimistic on economic growth

CHERRY HILL, N.J. – A majority of financial executives in large and middle-market companies on the East Coast are optimistic about economic growth this year, according to a survey of 300 CFOs, comptrollers, treasurers and directors of finance done by TD Bank, which released the findings May 8.
Half of the financial professionals surveyed said they expect to increase capital expenditures this year due to stronger revenue growth, with the major areas for spending expected to be in technology, existing facilities and additions to the workforce.
“The increased appetite for capital investments confirms our view that businesses are finding way to thrive in the ‘new normal’ economy,” said Greg Braca, executive vice president and head of corporate and specialty banking at TD Bank. “Increased spending at the corporate level bodes will for the long-term acceleration of growth and M&A, with companies recognizing that now is a great time to make a move before interest rates creep higher.”
Middle market companies stood above the overall optimism rate of 60 percent of all surveryed, with 81 percent of mid-market respondents expecting to see their companies increase revenues in 2014.

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