Even before the December market meltdown, CFOs across North America had recession on their minds.
In a quarterly report released by accounting and professional services provider Deloitte LLP Thursday, more than half of the CFOs surveyed said they expect a recession in the U.S. by 2020. At the same time, a gauge of the finance chiefs' optimism about their own companies' prospects fell to the lowest level in almost three years.
It's notable is that the survey period ended before the worst of the stock rout—it was conducted from Nov. 7 to Nov. 20. At that time, the S&P 500 had fallen 10 percent from its highs, but those losses just about doubled in December.
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