1 00:00:00,120 --> 00:00:03,480 Speaker 1: Now, a new survey of chief financial offices shows there's 2 00:00:03,520 --> 00:00:06,400 Speaker 1: some positivity for the year ahead. The inaugural Hunter Campbell 3 00:00:06,440 --> 00:00:09,800 Speaker 1: Mood of the CFO survey shows thirty percent of CFOs 4 00:00:09,800 --> 00:00:13,840 Speaker 1: feel upbeat about upcoming company performance. Infametric's principal economist Brad 5 00:00:13,840 --> 00:00:15,240 Speaker 1: Olson is all over this high. 6 00:00:15,280 --> 00:00:16,840 Speaker 2: Brad, good evening. 7 00:00:16,920 --> 00:00:19,840 Speaker 1: Were you surprised to see this level of positivity. 8 00:00:20,440 --> 00:00:23,400 Speaker 2: A little bit? I mean, both in terms of expectations 9 00:00:23,400 --> 00:00:25,640 Speaker 2: for the year ahead, but actually just looking at how 10 00:00:26,280 --> 00:00:28,320 Speaker 2: activity has gone for a lot of companies over the 11 00:00:28,400 --> 00:00:30,640 Speaker 2: last year. You know, some of the CFOs that were 12 00:00:30,680 --> 00:00:34,160 Speaker 2: interviewed suggested that, yes, it's been tough. Twenty one percent 13 00:00:34,200 --> 00:00:37,960 Speaker 2: of their revenue had declined, twenty nine said their profitability 14 00:00:38,000 --> 00:00:40,360 Speaker 2: had declined. And I think the difference in those numbers 15 00:00:40,400 --> 00:00:43,320 Speaker 2: sort of suggest, you know that obviously costs are still 16 00:00:43,320 --> 00:00:45,880 Speaker 2: playing a part, but the fact that thirty percentury the 17 00:00:45,960 --> 00:00:48,960 Speaker 2: upbeat or bullish about company expectations for the year ahead, 18 00:00:49,120 --> 00:00:51,760 Speaker 2: I think does reinforce what you've seen in other surveys 19 00:00:51,760 --> 00:00:54,120 Speaker 2: and other indicators that actually, you know, there is a 20 00:00:54,120 --> 00:00:56,360 Speaker 2: bit of a bit more optimism coming through in the 21 00:00:56,400 --> 00:00:58,320 Speaker 2: business community about better things to come. 22 00:00:58,480 --> 00:01:00,680 Speaker 1: Yeah, now, I mean, obviously thirty percent and feeling great 23 00:01:00,760 --> 00:01:03,720 Speaker 1: does mean that seventy percent, So what's going on there? 24 00:01:04,720 --> 00:01:06,600 Speaker 2: Well, Equally, when we sort of look through some of 25 00:01:06,600 --> 00:01:08,600 Speaker 2: those figures, you've got sort of thirty percent that are 26 00:01:08,640 --> 00:01:11,640 Speaker 2: either upbeat or bullish. You've got sort of the bulk 27 00:01:11,760 --> 00:01:13,600 Speaker 2: in the middle who are sort of going, look, we 28 00:01:13,640 --> 00:01:16,720 Speaker 2: think that things will be okay, we'll either hold still 29 00:01:16,840 --> 00:01:19,440 Speaker 2: or will grow but maybe not had our growth expectations, 30 00:01:20,160 --> 00:01:22,040 Speaker 2: or you know, will grow but we might have our 31 00:01:22,080 --> 00:01:25,120 Speaker 2: expectations but not really sort of plow through them. But 32 00:01:25,200 --> 00:01:26,880 Speaker 2: I think it does sort of suggest if you look 33 00:01:26,880 --> 00:01:29,039 Speaker 2: at the numbers who are reporting that they think things 34 00:01:29,040 --> 00:01:30,840 Speaker 2: are going to get worse from where they are here, 35 00:01:31,280 --> 00:01:32,959 Speaker 2: it's still sort of in an all right position. 36 00:01:34,000 --> 00:01:36,760 Speaker 1: So what is it that they are saying specifically that 37 00:01:36,760 --> 00:01:37,639 Speaker 1: they're worried about. 38 00:01:38,920 --> 00:01:41,400 Speaker 2: I mean, there's still a range of concerns out there. 39 00:01:41,840 --> 00:01:44,840 Speaker 2: I mean, obviously, costs are still a big part of it, 40 00:01:45,360 --> 00:01:46,760 Speaker 2: and I mean, you know, I think there's been a 41 00:01:46,800 --> 00:01:49,520 Speaker 2: lot of confidence that the lowering of the official cash 42 00:01:49,640 --> 00:01:52,440 Speaker 2: rate has provided to them. Also interesting is what they're 43 00:01:52,440 --> 00:01:55,800 Speaker 2: asking for from politicians. Some of it is the usual stuff, 44 00:01:55,800 --> 00:01:59,360 Speaker 2: you know, they want less regulation and sort of policies 45 00:01:59,360 --> 00:02:02,080 Speaker 2: that support more productive outcomes. You know, they don't want 46 00:02:02,080 --> 00:02:03,840 Speaker 2: to be dealing in red tape every day. They want 47 00:02:03,880 --> 00:02:05,840 Speaker 2: sort of, you know, the right tax settings so people 48 00:02:06,000 --> 00:02:08,960 Speaker 2: get on and go to work and do that productive stuff. 49 00:02:09,360 --> 00:02:12,640 Speaker 2: But sort of almost surprisingly for CFOs, you know, everyone 50 00:02:12,680 --> 00:02:15,200 Speaker 2: thinks of them from a very traditional finance point of view, 51 00:02:15,600 --> 00:02:18,000 Speaker 2: but you know that this Hunter Campbell now says highlights 52 00:02:18,000 --> 00:02:21,240 Speaker 2: that actually there's things around the likes of the cost 53 00:02:21,240 --> 00:02:25,360 Speaker 2: of living, about crime rates, around utility bills and similar 54 00:02:25,800 --> 00:02:28,079 Speaker 2: You know, there is a much greater focus I think 55 00:02:28,120 --> 00:02:31,400 Speaker 2: on people and talent from CFOs at the moment. They 56 00:02:31,400 --> 00:02:33,240 Speaker 2: do care a lot more about the staff that they're 57 00:02:33,440 --> 00:02:35,520 Speaker 2: looking after. They're having to be a lot more proactive 58 00:02:35,560 --> 00:02:37,880 Speaker 2: about that, and in fact, they're actually still worried about 59 00:02:37,880 --> 00:02:40,320 Speaker 2: talent despite the fact the unemployment rates going up, and 60 00:02:40,360 --> 00:02:42,800 Speaker 2: I think that highlights that we still have a skills mismatch. 61 00:02:43,000 --> 00:02:45,760 Speaker 2: There's still some good talent needed in the finance space 62 00:02:45,800 --> 00:02:46,520 Speaker 2: at the minute. 63 00:02:47,160 --> 00:02:49,040 Speaker 1: Brad, I know you love your infrastructure. What did you 64 00:02:49,040 --> 00:02:50,359 Speaker 1: make of the announcement yesterday? 65 00:02:51,600 --> 00:02:53,680 Speaker 2: Oh, look, I think it's encouraging to see that, you know, 66 00:02:54,080 --> 00:02:57,440 Speaker 2: all of that money being spent going forward on infrastructure, 67 00:02:57,440 --> 00:02:59,120 Speaker 2: and certainly some of those areas that you know do 68 00:02:59,240 --> 00:03:02,399 Speaker 2: desperately need it. I'm an Northander, I know how challenging 69 00:03:02,960 --> 00:03:04,960 Speaker 2: it is when the brend Dowins go out, So you know, 70 00:03:05,000 --> 00:03:08,480 Speaker 2: some of those investments are encouraging. The tricky thing looking 71 00:03:08,480 --> 00:03:09,959 Speaker 2: through the document is going to be there is a 72 00:03:10,000 --> 00:03:12,280 Speaker 2: lot of commitment to spend money, there is not a 73 00:03:12,360 --> 00:03:15,080 Speaker 2: huge amount of that money into the future years that's 74 00:03:15,120 --> 00:03:17,000 Speaker 2: going space. So at some point we're going to have 75 00:03:17,040 --> 00:03:19,200 Speaker 2: to decide do we want to sit in traffic, do 76 00:03:19,240 --> 00:03:21,519 Speaker 2: we want to have you know, congestion running through or 77 00:03:21,520 --> 00:03:24,400 Speaker 2: are we happy to pay tolls or taxes or something 78 00:03:24,480 --> 00:03:26,440 Speaker 2: because we've got to get better quality infrastructure. 79 00:03:26,480 --> 00:03:29,200 Speaker 1: Yeah, fair enough. Hey, Brad, thank you as always really appreciated. 80 00:03:29,240 --> 00:03:31,839 Speaker 1: That's Brad Olson, Informetric Principle Economist. 81 00:03:32,320 --> 00:03:35,480 Speaker 2: For more from Heather Duplessy Allen Drive, listen live to 82 00:03:35,600 --> 00:03:38,640 Speaker 2: News Talk sai'd Be from four pm weekdays, or follow 83 00:03:38,680 --> 00:03:40,440 Speaker 2: the podcast on iHeartRadio.