CFO confidence hits year-low on growth fears

According to a Deloitte survey, just 24% of CFOs were optimistic in the second quarter, compared to 40% in the previous quarter - the lowest level in a year. Concerns over prospects for global growth run high, with the average CFO estimating the likelihood of a double-dip recession at 38%. Such fears have been heightened by recent market volatility, with last week's disappointing economic data from China and the US rattling investors. Government-imposed austerity measures have also impacted sentiment, with two-thirds expecting deficit reduction measures to negatively impact their c...