Global uncertainty denting the confidence of Australia's chief bean counters, Deloitte says
Deloitte's biannual CFO sentiment report on Thursday gathered responses from over 60 chief bean-counters across Australia and found the share of respondents feeling optimistic about the economy had nearly doubled in just six months.
At the same time, sentiment dipped in the first half of 2025, with net optimism in CFOs' own business prospects falling 16 percentage points to 49 per cent.
The consulting firm said this was a step back from the levels of optimism recorded throughout 2024, suggesting CFOs have tempered expectations around their own business prospects for the next 12 months.
Some 59 per cent of CFOs remain optimistic or highly optimistic about their financial prospects, down 12 percentage points from six months ago.
Deloitte said several factors were likely to have contributed to the fall in optimism. US President Donald Trump's tariff chaos have increased uncertainty around global economic outlook and business conditions remained tough as thin margins and weak consumer spending weighed on profits.
Many businesses were also grappling with challenges around implementing strategies aimed at boosting operational efficiency.
Deloitte Access Economics partner David Rumbens said CFOs were unarguably more optimistic about the Australian economy than they have been in years.
'But just because the economy is doing better than it was, does not mean that it's yet in fantastic health,' he said.
'There are a number of economic factors contributing to the business pressures being felt by CFOs.
'However, there are green shoots — we are firmly within a rate-cutting cycle, inflation appears to be under control, the labour market is relatively resilient and the results of the recent Federal election provide for policy certainty.'
These should help CFOs 'forward plan investment and could help lift business sentiment in the coming months', Mr Rumbens said.
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