CFOs Doubtful on Economic Growth in 2012 (BAC)

Just 38% of corporate executives expect the US economy to expand in 2012. That’s down from 56% in 2010 who expected expansion this year and 66% in 2009 who expected growth in 2010.

The results come from a survey by Bank of America Corp. (NYSE: BAC) of 600 CFOs at companies ranging in sales revenues between $20 million and $2 billion. Other highlights of the survey include:

CFOs are strongly concerned about several factors that could affect the economy in 2012. No. 1 was the effectiveness of U.S. government leaders, listed as a concern by 70 percent of executives. In addition, 63 percent listed the U.S. budget deficit, 60 percent listed healthcare costs, 58 percent listed unemployment and 55 percent listed consumer confidence. Never in the history of the CFO Outlook have there been so many factors at a high level of concern. Last year’s top concern regarding the economy was healthcare reform, chosen by 54 percent of executives.

The top financial concern for their own companies was healthcare costs, chosen by 56 percent of CFOs. That was followed by energy costs and consumer confidence, both at 43 percent; cash flow at 42 percent; and revenue growth at 40 percent.

On the positive side, survey respondents have improved expectations of access to capital and the cost of capital in 2012.

The press release is available here.