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CFOs believe the Brexit headwinds have eased and see far less damage to their spending plans than earlier expected,” said Ian Stewart, chief economist at Deloitte. “While most still see Brexit having an adverse effect on the business environment, even here the degree of negativity has fallen.”
While finance chiefs’ risk appetite rose, it remains below long-term averages and is about half the level seen in the year preceding the referendum. Still, firms are increasingly moving away from the most defensive strategies such cost reduction in favor of expansionary measures like raising capital spending and introducing new products.
Brexit remained the top concern, with 60 percent of respondents saying the business environment will be worse when the U.K. leaves the EU. Around a quarter said the divorce will see their own capital spending decrease and 30 percent say it will cause them to slow hiring. [...]