Most financial executives expect the pace of U.S. growth in the second half of 2006 to hold steady, according to the latest survey from accounting firm Grant Thornton.
The poll of 381 U.S. chief financial officers and comptrollers showed 59 percent felt the economy will tread water for the remainder of the year, while 28 percent expect it will worsen. Just 13 percent of executives polled felt the economy would improve in the second half.
In terms of their own businesses, about 50 percent felt their company's financial prospects will remain the same for the rest of the year, while 37 percent said they expect their companies to improve. Only 13 percent saw clouds on the horizon for their own companies.
The executives' views are consistent with economists' forecasts. Standard & Poor's, for example, said on Tuesday that it expects S&P 500 companies to continue the pattern of double-digit year-over-year gains in third-quarter and fourth-quarter operating earnings.
Despite fears on Wall Street of a slowing economy, the executives polled by Grant Thornton also said they were not feeling much pressure from high energy prices. Many felt comfortable raising prices.
The majority of executives felt high energy prices would not hurt their companies in the second half, and a third of those polled said they are comfortable increasing prices or fees later this year.
On the hiring front, 55 percent of those polled said they will continue to hire at the same level as earlier in the year, and 29 percent said they will boost hiring.
