Chief financial officers in the U.S. and Europe are largely optimistic about sales and earnings for their individual companies through the rest of the year, but rising commodity prices and extreme volatility in the equities markets has most convinced inflation is on the rise and will likely hinder any substantial recovery in the overall economy.

The CFO Outlook survey, conducted last month by Financial Executives International and Baruch College’s Zicklin School of Business, interviewed 228 corporate CFOs based in the U.S., 78 corporate CFOs from Italy and 44 CFOs from France.

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