John Elliott, Dean of Baruch's Zicklin School of Business, and Terrence Martell, Saxe professor of Finance and International Business in Baruch's Zicklin School of Business, discuss highlights of the second quarter 2011 'Chief Financial Officers Outlook Survey', conducted quarterly by Financial Executives International and Baruch College's Zicklin School of Business.

According to the survey, optimism in global economy drops among CFOs. While executives remain stable in their business outlook and expect large gains in net earnings, looming fears of the impact of an increase of the debt ceiling and the possibility of a double-dip recession are prompting them to extend their forecasts for the start of a U.S. economic recovery by more than a year to the second half of 2012 or beyond.