U.K. CFO Confidence Dives After Brexit Vote, Survey Shows
- Gloom spreads as uncertainty spirals after EU referendum
- Deloitte survey shows shift to ‘more defensive strategies’
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Business confidence among U.K. chief financial officers plunged in the wake of the country’s vote to leave the European Union, with more than four in five expecting to cut capital spending and reduce hiring over the next year, a survey showed.
Accounting firm Deloitte LLP polled 132 CFOs of U.K. companies from June 28, five days after the EU referendum. The survey showed rising levels of uncertainty and risk aversion and increased pessimism about the economy, compared with three months earlier.