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U.S. companies swallowed the oil shock. They’re not sure they can do it again

U.S. companies mostly absorbed previous oil price shocks but express uncertainty about future capacity. CFO sentiment regarding the global economy decreased substantially in the second quarter. Despite this, a majority of firms still plan for technology spending.

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What changed

New data shows a sharp rise in inflation concerns among executives and a decline in global economic sentiment.

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  1. U.S. Firms Struggle with Continued Oil Price Shocks

    U.S. companies mostly absorbed previous oil price shocks but express uncertainty about future capacity. CFO sentiment regarding the global economy decreased substantially in the second quarter. Despite this, a majority of firms still plan for technology spending.

    What's confirmed:

    • U.S. CFOs reported that firms mostly absorbed the oil price shock.
    • CFO sentiments on the world economy decreased substantially in Q2.
    • 67 percent of companies anticipate technology spending despite a lack of optimism.

    Still unconfirmed:

    • Inflation is now the top concern for 25% of firms, nearly triple the previous quarter.
    • CFOs trust their own firm's prospects more than the U.S. economy.
    • An explosion at the Valero Port Arthur Refinery put 435,000 barrels of oil at risk.
    confidence 80%