China's economic outlook upgraded
Global chief financial officers have upgraded China's economic outlook to "Modestly Improving" in the last quarter of the year from "Stable" in the third quarter, a recent survey by the CNBC Global CFO Council showed.
The council, which gathers about 150 CFOs from some of the largest public and private companies in the world, said those CFOs responding to this quarter's survey feel more optimistic about the Chinese economy as the country is embracing a steady economic recovery from the COVID-19 pandemic.
Meanwhile, the CFOs also have improved the economic outlook for the US, Canada and Britain from "Modestly Declining" to "Stable," the survey released Wednesday showed.
In the current quarter, Japan, the rest of Asia and the Eurozone maintained their rating of "Stable," whereas Africa, the Middle East, Latin America and Russia maintained their rating of "Modestly Declining," the survey said.
About 65 percent of the CFOs surveyed regard the pandemic as the biggest external challenge for their companies.