UK firms more optimistic after Brexit transition deal – Deloitte survey

The results of the survey conducted by the accountancy firm, Deloitte, showed that a majority of the Chief Financial Officers (CFO) of the British companies interviewed, were more optimistic after the Brexit transition deal was struck when compared to three months earlier.

Key Findings:

“27 percent of chief financial officers it interviewed after the deal was struck were more optimistic than three months earlier.

That compared with 18 percent of CFOs who were more optimistic before the deal was struck.

Deloitte interviewed 106 CFOs from large British firms and major British subsidiaries of foreign companies between March 7 and March 21. About four-fifths of them responded before the transition deal was reached.

Risk appetite strengthened after the deal, with 23 percent of those responding after the deal was done saying it was a good time to take on risk, up from 12 percent beforehand.

The survey also showed corporate uncertainty was at a two-year low, although almost one in three CFOs said their firms still faced high or very high levels of uncertainty.

Deloitte said for the first time in two years Brexit was not the top risk for CFOs, being replaced by weak domestic demand.”