Regulatory and tax reform touted by President Donald Trump on the campaign trail has caused CFOs to be more optimistic about the U.S. economy as they anticipate future changes will be good for business, according to the Duke University/CFO Magazine Global Business Outlook survey.
The survey, which drew responses from nearly 1,000 senior finance executives across all industries, revealed CFOs' economic optimism was the highest it had been in more than 10 years in the fourth quarter of 2016. The index measuring economic optimism among CFOs climbed to 66.5 (out of 100) in the fourth quarter, up from 60.6 in the previous quarter.
The significant increase in optimism represents a "Trump bump," which means CFOs are hoping for business-friendly reforms this year under the new administration, according to the survey.
The survey results showed 20 percent of finance executives have increased their spending plans due to anticipated regulatory reform, while 16 percent said their spending plans are higher due to anticipated tax reform.
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