On June 25, 2025 The CFO Survey was released. It contains a variety of statistics regarding how CFOs view business and economic conditions.
In the CFO Survey press release, I found the following to be the most notable excerpts – although I don’t necessarily agree with them:
In the survey, which closed on June 6, CFOs revised higher their own-firm unit cost and price growth projections for 2025, while reducing their revenue growth expectations. Financial executives also lowered their expectations for real GDP growth over the next four quarters to 1.4 percent, from 1.9 percent in the prior survey. Moreover, the probability respondents assigned to negative year-ahead economic growth jumped to 23 percent from 15 percent last quarter.
also:
“Perhaps the most striking facet of the outlook for those that report tariffs and trade policy as a pressing concern is that their nominal sales revenue expectations fail to outpace their price growth projections, which means their real revenue growth is expected to contract in 2025,” said Atlanta Fed economist Brent Meyer.
The CFO Survey contains an Optimism Index chart, with the blue line showing U.S. Optimism (with regard to the economy) at 60.9, as seen below:

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It should be interesting to see how well the CFOs predict business and economic conditions going forward. I discussed past various aspects of this, and the importance of these predictions, in the July 9, 2010 post titled “The Business Environment”.
(past posts on CEO and CFO surveys can be found under the “CFO and CEO Confidence” label)
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I post various economic forecasts because I believe they should be carefully monitored. However, as those familiar with this site are aware, I do not necessarily agree with many of the consensus estimates and much of the commentary in these forecast surveys.
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The Special Note summarizes my overall thoughts about our economic situation
SPX at 6092.18 as this post is written
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