The retail/wholesale sectors are particularly pessimistic, followed by manufacturing and services, according to a recent poll by Deloitte.
Nearly 60% of CFOs said they do not expect their operations to return to near-normal levels in 2020, particularly in the retail/wholesale sector, according to a recent poll by Deloitte. The manufacturing and services sectors are also not anticipating a return to near-normal levels this year, Deloitte said.
The forum was conducted earlier this month and Deloitte received responses from 166 companies, of which 70% were private firms with annual revenue of more than $1 billion.
In terms of charting the path to recovery, about half of the respondent CFOs said they plan to open local offices/operations as soon as local and/or state governments permit it. Technology will also play a role in the recovery; 56% of CFOs said their investments in technologies for virtual and automated business operations will increase over the next 12 months, while 35% said it would remain about the same. Only 5% said investments would…
