To understand finance professionals' feelings about financial risk management, as well as their thoughts on the economy overall, TD Bank polled CFOs, controllers, treasurers, and directors of finance from across the United States. Respondents come from both midmarket companies, defined by TD Bank as being under $250 million in annual revenue, and “corporates,” defined as organizations with revenues above $250 million.
The survey revealed that these executives' confidence in the U.S. economy is increasing—and their confidence in their own organization is growing even faster. The largest proportion (41 percent) said they are more confident about the U.S. economic outlook over the next 12 months than they were over the previous 12 months. Thirty-one percent said they're less confident today, and 29 percent said their confidence level hasn't changed in the past year.
But when asked how they feel about the prospects for their organization over the next 12 months, vs. the previous year, a full 60 percent said they're more confident, and nearly half of those (26 percent of all respondents) said they're much more confident today. In contrast, only 11 percent of respondents are less confident about the next year than the past year, and only 3 percent are much less confident. Fred Graziano, head of regional commercial banking and executive vice president with TD Bank, says these numbers are up from the bank's 2012 survey: “The difference from a year ago is that companies are feeling a little bit better about themselves and how they manage their business.”
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