Chief financial officers (CFOs) remain cautious about their firms' future economic prospects despite a creeping sense of optimism, according to new research.
A study by Deloitte has revealed that 73 per cent of CFOs expect to see growth return next year.
Despite this, 59 per cent stated that they do not expect an increase in demand for their own companies' products for at least another 12 months.
Margaret Ewing, partner and vice-chairman at Deloitte, said that no one is predicting a return to business as usual.
She said: "While CFOs may believe the end of the recession is in sight, they are of the opinion that the business environment will remain very difficult during the first year of any recovery."
CFOs are not expecting a return to the levels of growth seen in late 2006 and early 2007 either, Ms Ewing added.
Recently, a study by Ernst & Young revealed that 32 per cent of financial services firms across the globe expect the market to remain stagnant until at least the first quarter of 2010.
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