CFOs Bet on U.S. Business Rebound

Chief financial officers from around the globe are betting on a rebound for the U.S. economy in the next six months but expect a rocky patch for equity markets ahead of a rate hike by the U.S. Federal Reserve later this year.

A survey of 51 chief financial officers (CFOs) from Europe and Asia by CNBC has revealed that the majority believe that the U.S. and Canada will be the world’s economic powerhouse. Of those surveyed, 44.4 percent said that the region would lead the way other the next six months, dwarfing other regions like China which received just 27.7 percent of the vote.

The survey’s findings come in spite of gross domestic product in the U.S. expanding by just a 0.2 percent annual rate, according to data by the Commerce Department at the end of last month. That marked the weakest reading in a year and was way below market expectations with many blaming the cold weather during the period for much of the east coast.