Almost half of U.S. financial managers are slashing hiring or spending plans as political uncertainty weighs on the business outlook during the election year, according to a survey released Wednesday.
Forty-seven percent of U.S. firms reported pulling back on employment or investment, according to the quarterly Duke University/CFO Global Business Outlook poll.
About eight in 10 chief financial officers said the U.S. economy faces moderate-to-large political risk due to election uncertainty, “Washington dysfunction” and regulations including proposed minimum-wage increases, according to the report, which is done in conjunction with CFO Magazine. Almost 40% of the U.S. CFOs said they believed foreign companies were less willing to do business with the U.S. because of the cloudy political atmosphere.
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