UK’s Autumn of Discontent


March of Brexit opponents held in central London on 9 September gathered several tens of thousands of people. The protesters oppose the UK's withdrawal from the EU. This march was one of a series of protests against Brexit, scheduled for this fall. This campaign has already received the name "Autumn of Discontent".

The survey of CFOs shows that the Brexit shock that hit executive opinion in the wake of the EU referendum has eased but a new wave of rueful feelings is coming:

  • Net percentage of Chief Financial Officers whose bright view seemed to be skyrocketing with 18 month high of 14% in the first quarter of 2017 have token a twist to pessimistic view for financial prospects. There is a 12% increase among CFOs who think that Brexit will worsen the overall business environment.
  • Financial pessimism about the effects of Brexit on own spending and hiring decisions increased, but it adapts minor alteration - there is approximately 7% change in own spending and hiring decisions.   
  • Chief Financial Officers continue to conceive that the biggest risk for business environment is Brexit. In most of aspects there was marginal changes to lower possible risk, an exception to this is one of the highest risks - weak demand in the UK.
  • The preferred financial strategy for corporations is still the reduction in costs for the next year - an increase of 3% among the Chief Officers for this priority from the fourth quarter of 2016. Moreover, CFOs have given loose reign to defensive strategies including increasing cash flow and reducing costs.
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