North American CFOs Show Renewed Confidence Despite Economic Caution

The CFO Confidence Score climbed to 6.1 this quarter, up from 5.9 in Q2, signaling a shift toward optimism despite persistent macroeconomic headwinds. While 90% of the 200 surveyed finance chiefs express confidence in their own company’s financial trajectory, only 37.5% view the North American economy in a favorable light.

This internal focus comes with a sharpened awareness of digital vulnerabilities. Half of the respondents identified technology deployment, including GenAI, as their primary internal hurdle, while cybersecurity took the top spot for external concerns. This heightened sense of caution is reflected in risk appetite: only 53% of CFOs now believe it is a good time to take on greater risk, a notable drop from the 59% reported in the previous quarter.

Growth projections remain modest. Executives anticipate revenue and capital expenditure increases of 4.6% and 4.3% respectively over the coming year. However, expectations for hiring, domestic wages, and dividend payouts have softened. Despite these mixed signals, capital remains accessible, with over half of the respondents viewing both equity and debt financing as attractive options for their firms.