{"id":41016,"date":"2024-05-07T10:00:00","date_gmt":"2024-05-07T08:00:00","guid":{"rendered":"https:\/\/frankfurt-main-finance.com\/?p=41016"},"modified":"2024-05-02T12:14:32","modified_gmt":"2024-05-02T10:14:32","slug":"cfos-remain-optimistic-despite-crises-and-risks-upturn-in-sight","status":"publish","type":"post","link":"https:\/\/frankfurt-main-finance.com\/en\/cfos-remain-optimistic-despite-crises-and-risks-upturn-in-sight\/","title":{"rendered":"CFOs remain optimistic despite crises and risks: upturn in sight"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"41016\" class=\"elementor elementor-41016 elementor-40999\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-fbbc247 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"fbbc247\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-adc021c\" data-id=\"adc021c\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-272c199 elementor-widget elementor-widget-text-editor\" data-id=\"272c199\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li><p>After the 2023 recession and a weak start to the year, German CFOs see a cautious economic recovery according to the Deloitte CFO Survey<\/p><\/li><li><p>Sectors very mixed: Domestic market-oriented industries such as retail and real estate are benefiting from falling inflation, with business prospects rising sharply here<\/p><\/li><li><p>Export-oriented industries such as automotive continue to show negative values and are suffering particularly from geopolitical uncertainty; only the chemical industry is surprisingly optimistic<\/p><\/li><\/ul><p>Last year&#8217;s downturn has been halted, with the first analyses from the new Deloitte CFO Survey from March\/April 2024 showing a significant improvement in business prospects. The index value, i.e. the difference between positive and negative assessments, rose from -30% to +9%. This means that almost a third of the CFOs surveyed are more positive about the business outlook than three months previously (see Fig. 1 below).<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8bc7335 elementor-widget elementor-widget-heading\" data-id=\"8bc7335\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Business prospects are recovering very differently<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-01f7ca4 elementor-widget elementor-widget-text-editor\" data-id=\"01f7ca4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>However, there are major differences between the sectors: trade (index: +30) and real estate (index: +27) in particular are benefiting from the recent recovery after a long dry spell; falling inflation and expected interest rate cuts are boosting optimism here.<\/p><p>Export-oriented sectors are less optimistic; the manufacturing industry and the automotive industry in particular (index: -62) are suffering much more from geopolitical risks than they are benefiting from falling inflation. However, CFOs in the chemical industry are surprisingly positive &#8211; after the sector was one of the worst performers in terms of optimism in the last few reports, it has recently bucked the trend in the manufacturing industry with a significantly improved outlook (index: +31).<\/p><p>&#8220;Even though the economic situation has brightened up compared to the autumn, there is still no sense of optimism,&#8221; says Dr. Alexander B\u00f6rsch, Chief Economist at Deloitte. &#8220;The economic downturn seems to have come to a halt, but a dynamic upturn is not yet in sight. Companies are remaining cautious in their planning for the time being.&#8221;<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a08f19b elementor-widget elementor-widget-heading\" data-id=\"a08f19b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Persistent uncertainty leads to cautious corporate strategies<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-177de77 elementor-widget elementor-widget-text-editor\" data-id=\"177de77\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Despite generally rising sales expectations (index: +27%): Companies remain defensive when it comes to personnel and investment planning, which is reflected in the stagnating indices for investment (-1%) and recruitment (-4%). The outlook is more positive in the services sector, where increases in employment (+14%) and investments (+11%) are planned. New employees are particularly sought after in the technology and logistics sectors, while the strategy in the automotive sector is much more defensive in line with the poor business outlook: here, more than half of the CFOs surveyed plan to invest less and 77% plan to reduce the number of employees.<\/p><p>The size of the respective company also influences the outlook and planning. Large companies (turnover &gt; EUR 1 billion) are more expansive in the current CFO Survey and expect a strong increase in investments (+10%) and employment (+13%). SMEs are more defensive when it comes to investments.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-02f4868 elementor-widget elementor-widget-heading\" data-id=\"02f4868\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Geopolitical risks and inflation remain challenging, cyber risks on the rise<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-099ee06 elementor-widget elementor-widget-text-editor\" data-id=\"099ee06\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Hauptgesch\u00e4ftsrisiken sehen die Finanzchefs vor allem in einer schw\u00e4cheren Inlandsnachfrage, beim Fachkr\u00e4ftemangel, bei steigenden Lohnkosten und geopolitischen Risiken. An Bedeutung haben im Vergleich zum letzten Herbst geopolitische und Cyber-Risiken gewonnen. Insbesondere f\u00fcr Gro\u00dfunternehmen und Exportindustrien bleiben die geopolitischen Risiken auch weiterhin der bedeutendste Faktor. Bei der Inflation erwarten die Finanzchefs eine durchschnittliche Preissteigerung von 3,1 Prozent in den n\u00e4chsten 12 Monaten und damit deutlich mehr als die meisten volkswirtschaftlichen Prognosen. Somit bleibt die Inflation weiterhin ein wichtiges Thema f\u00fcr die Unternehmen.<\/p><p>The CFOs see the main business risks primarily in weaker domestic demand, a shortage of skilled workers, rising wage costs and geopolitical risks. Geopolitical and cyber risks have gained in importance compared to last fall. Geopolitical risks remain the most significant factor for large companies and export industries in particular. In terms of inflation, CFOs expect an average price increase of 3.1% over the next 12 months, which is significantly higher than most economic forecasts. Inflation therefore remains an important issue for companies.<\/p><p>&#8220;The economic situation is stabilizing,&#8221; says B\u00f6rsch. &#8220;Normally, falling inflation and the likely interest rate cuts in Europe and the USA could provide additional momentum in this situation. However, this is subject to the proviso that geopolitical conflicts continue or even escalate. The further recovery process in Germany therefore remains highly dependent on geopolitical developments.&#8221;<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-db65add elementor-widget elementor-widget-heading\" data-id=\"db65add\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Development of the business outlook (Fig 1 from the CFO Survey)<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-8c0c080 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8c0c080\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-23e8010\" data-id=\"23e8010\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9a32101 elementor-widget elementor-widget-text-editor\" data-id=\"9a32101\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Question:<\/strong> How do you assess the current business outlook of your company compared to the outlook three months ago?<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b099cd3 elementor-widget elementor-widget-image\" data-id=\"b099cd3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"771\" height=\"375\" src=\"https:\/\/frankfurt-main-finance.com\/wp-content\/uploads\/2024\/04\/Unbenannt.png\" class=\"attachment-large size-large wp-image-41005\" alt=\"\" srcset=\"https:\/\/frankfurt-main-finance.com\/wp-content\/uploads\/2024\/04\/Unbenannt.png 771w, https:\/\/frankfurt-main-finance.com\/wp-content\/uploads\/2024\/04\/Unbenannt-300x146.png 300w, https:\/\/frankfurt-main-finance.com\/wp-content\/uploads\/2024\/04\/Unbenannt-768x374.png 768w\" sizes=\"(max-width: 771px) 100vw, 771px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-13ae226 elementor-widget elementor-widget-text-editor\" data-id=\"13ae226\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Fig. 1: Assessment of business prospects <\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-70d76d5 elementor-widget elementor-widget-spacer\" data-id=\"70d76d5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-abf2771 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"abf2771\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2a3845e\" data-id=\"2a3845e\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1305f59 elementor-cta--layout-image-left elementor-cta--skin-classic elementor-animated-content elementor-bg-transform elementor-bg-transform-zoom-in elementor-widget elementor-widget-call-to-action\" data-id=\"1305f59\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"call-to-action.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<a class=\"elementor-cta\" href=\"https:\/\/www2.deloitte.com\/de\/de\/blog\/economic-trend-briefings\/2024\/cfo-survey-fruehjahr-2024.html\">\n\t\t\t\t\t<div class=\"elementor-cta__bg-wrapper\">\n\t\t\t\t<div class=\"elementor-cta__bg elementor-bg\" style=\"background-image: url(https:\/\/frankfurt-main-finance.com\/wp-content\/uploads\/2024\/05\/Unbenannt.png);\" role=\"img\" aria-label=\"Unbenannt\"><\/div>\n\t\t\t\t<div class=\"elementor-cta__bg-overlay\"><\/div>\n\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-cta__content\">\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<h2 class=\"elementor-cta__title elementor-cta__content-item elementor-content-item\">\n\t\t\t\t\t\tEconomic Trend Briefing: The economy has bottomed out, geopolitics are putting the brakes on - Flash results of the Deloitte CFO Survey Spring 2024\t\t\t\t\t<\/h2>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-cta__description elementor-cta__content-item elementor-content-item\">\n\t\t\t\t\t\tYou can find the flash results of the study here \t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-cta__button-wrapper elementor-cta__content-item elementor-content-item \">\n\t\t\t\t\t<span class=\"elementor-cta__button elementor-button elementor-size-\">\n\t\t\t\t\t\tDownload now\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4c2e61c elementor-widget elementor-widget-text-editor\" data-id=\"4c2e61c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Source: <a href=\"https:\/\/www2.deloitte.com\/de\/de\/pages\/presse\/contents\/CFO-Survey-Ende-der-konjunkturellen-Talfahrt.html\">Press release from 22.04.2024<\/a><\/p><p>The study is only available in German.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-995713e elementor-widget-divider--view-line_icon elementor-view-default elementor-widget-divider--element-align-center elementor-widget elementor-widget-divider\" data-id=\"995713e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon elementor-divider__element\">\n\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" id=\"Ebene_1\" data-name=\"Ebene 1\" viewBox=\"0 0 146.56 128.39\"><defs><radialGradient id=\"Neues_Verlaufsfeld_1\" data-name=\"Neues Verlaufsfeld 1\" cx=\"46.19\" cy=\"101.83\" r=\"113.81\" gradientUnits=\"userSpaceOnUse\"><stop offset=\"0\" stop-color=\"#fff\"><\/stop><stop offset=\"0.11\" stop-color=\"#fdfdf3\"><\/stop><stop offset=\"0.3\" stop-color=\"#f8f8d4\"><\/stop><stop offset=\"0.56\" stop-color=\"#efefa1\"><\/stop><stop offset=\"0.87\" stop-color=\"#e3e35b\"><\/stop><stop offset=\"1\" stop-color=\"#ddde3a\"><\/stop><\/radialGradient><\/defs><g><path 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71.69h-57.78V501C413.31 482.38 504 379.78 504 256z\"><\/path><\/svg>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-share-btn__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-share-btn__title\">\n\t\t\t\t\t\t\t\t\t\tFacebook\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-grid-item\" role=\"listitem\">\n\t\t\t\t\t\t<div class=\"elementor-share-btn elementor-share-btn_twitter\" role=\"button\" tabindex=\"0\" aria-label=\"Share on twitter\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-share-btn__icon\">\n\t\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fab-twitter\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M459.37 151.716c.325 4.548.325 9.097.325 13.645 0 138.72-105.583 298.558-298.558 298.558-59.452 0-114.68-17.219-161.137-47.106 8.447.974 16.568 1.299 25.34 1.299 49.055 0 94.213-16.568 130.274-44.832-46.132-.975-84.792-31.188-98.112-72.772 6.498.974 12.995 1.624 19.818 1.624 9.421 0 18.843-1.3 27.614-3.573-48.081-9.747-84.143-51.98-84.143-102.985v-1.299c13.969 7.797 30.214 12.67 47.431 13.319-28.264-18.843-46.781-51.005-46.781-87.391 0-19.492 5.197-37.36 14.294-52.954 51.655 63.675 129.3 105.258 216.365 109.807-1.624-7.797-2.599-15.918-2.599-24.04 0-57.828 46.782-104.934 104.934-104.934 30.213 0 57.502 12.67 76.67 33.137 23.715-4.548 46.456-13.32 66.599-25.34-7.798 24.366-24.366 44.833-46.132 57.827 21.117-2.273 41.584-8.122 60.426-16.243-14.292 20.791-32.161 39.308-52.628 54.253z\"><\/path><\/svg>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-share-btn__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-share-btn__title\">\n\t\t\t\t\t\t\t\t\t\tTwitter\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-grid-item\" role=\"listitem\">\n\t\t\t\t\t\t<div class=\"elementor-share-btn elementor-share-btn_linkedin\" role=\"button\" tabindex=\"0\" aria-label=\"Share on linkedin\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-share-btn__icon\">\n\t\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fab-linkedin\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M416 32H31.9C14.3 32 0 46.5 0 64.3v383.4C0 465.5 14.3 480 31.9 480H416c17.6 0 32-14.5 32-32.3V64.3c0-17.8-14.4-32.3-32-32.3zM135.4 416H69V202.2h66.5V416zm-33.2-243c-21.3 0-38.5-17.3-38.5-38.5S80.9 96 102.2 96c21.2 0 38.5 17.3 38.5 38.5 0 21.3-17.2 38.5-38.5 38.5zm282.1 243h-66.4V312c0-24.8-.5-56.7-34.5-56.7-34.6 0-39.9 27-39.9 54.9V416h-66.4V202.2h63.7v29.2h.9c8.9-16.8 30.6-34.5 62.9-34.5 67.2 0 79.7 44.3 79.7 101.9V416z\"><\/path><\/svg>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-share-btn__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-share-btn__title\">\n\t\t\t\t\t\t\t\t\t\tLinkedIn\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<div class=\"tmnf_excerpt\"><p>The Deloitte CFO Survey for spring 2024 shows a cautious recovery in the German economy, with domestic market sectors benefiting while export-oriented sectors continue to suffer from uncertainties.<\/p>\n<\/div>","protected":false},"author":7,"featured_media":41039,"comment_status":"closed","ping_status":"open","sticky":false,"template":"template-fullwidth.php","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[241,200],"tags":[827],"class_list":["post-41016","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international","category-member","tag-deloitte-en"],"acf":[],"publishpress_future_action":{"enabled":false,"date":"2026-04-22 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