& Risk’s
2012
Economic
Survey
Still Under a Cloud
he recession officially ended in mid-2009, but the more than 300
senior finance executives polled in Treasury & Risk’s 2012 economic
survey remain wary about the u.s. economy and even more cautious
about global growth. The average confidence reading on the u.s. economy over the next six months was almost
a point higher than that on the global economy. While 32% cite unemployment as the biggest threat, 27% see eu-
rope’s debt crisis as the big danger. meanwhile, 60% expect Greece to default, and 38% say countries will exit the
euro within six months. However, 49% expect their companies to move forward in 2012 despite the crisis. MORE
SURVEY RESULTS CAN BE FOUND ONLINE AT WWW. TREASURYANDRISK.COM
OUTLOOK OVER NEXT 6 MONTHS
15%
t
CONFIDENCE ABOUT THE ECONOMY
(1=very pessimistic; 10=very confident)
U.S., over the next 6 months: 4.41
1/11 4.62
1/10 4.48
6/09 4. 19
37%
41%
29%
33%
15%
20%
U.S.
Global
Global, over the next 6 months: 3.67
6%
3%
1%
0 10
On a downward trend
Affected by as many
negatives as positives
Stabilizing but flat
Beginning to improve
Growing
20
30
40
50
BIGGEST THREAT TO U.S.
GROWTH OVER NEXT 12 MONTHS
Unemployment
European debt crisis
Housing crisis,
foreclosures
Weak consumer spending
Lack of liquidity
32%
27%
10%
9%
0
4%
5 10 15 20 25 30 35
EXECUTIVES EXPECT THEIR COMPANIES TO:
Increase capital spending
Decrease capital spending
14%
10%
Increase workforce
Cut workforce
See operating margins fall
See operating margins rise
10 20 30 40
2012 2011
33%
37%
29%
31%
27%
17%
31%
29%
29%
24%
0
RESPONDENTS’ COMPANIES’
ANNUAL REVENUE
Under $500 mln
$500 mln to $1 bln
$1 bln to $5 bln
More than $5 bln
13%
19%
17%
nearly 64% predict the Fed
will keep the funds rate steady
for the next 12 months, up from
39% in last year’s survey.
