U.S. chief financial officers are turning more optimistic about the economy, even as they face growing challenges from tariffs, workforce pressures, and new tax rules, according to Grant Thornton’s latest quarterly survey.
The third quarter 2025 survey of more than 230 finance leaders found that 51% are optimistic about the economy, up from 39% in the second quarter. Confidence rose across several key areas, including supply chain performance (up 20 percentage points to 57%), cost control (up 13 points to 50%) and technology goals (up 14 points to 66%).
Despite the improved outlook, finance chiefs are still managing serious headwinds. Two-thirds (64%) said tariffs are hurting their business, compared with 56% last quarter, while 45% said workforce reductions may be on the horizon.
“The idea that AI might replace workers is no longer unspoken among business leaders; it’s starting to become a central part of the conversation,” the report said.
The new One Big Beautiful Bill Act (OBBBA) is creating both opportunities and confusion. Just 54% of CFOs said their tax teams fully understand how to capitalize on the legislation, while 42% expect to seek outside help.
“You have to look at the hospitable environment in the U.S. from a tax positioning standpoint in conjunction with the tariff environment, technology and automation advancements,” said Mike Desmond, audit and assurance growth leader at Grant Thornton LLP. “Companies should completely reconsider their global footprint, infrastructure and total cost of operations.”
More than half of respondents said they plan to channel OBBBA-related tax savings into technology investments, particularly artificial intelligence. CFOs are increasingly focused on how AI can reshape operations, analytics, and customer engagement.
“CFOs want to sit down and talk about AI,” said Paul Melville, national managing partner of CFO advisory at Grant Thornton Advisors LLC. “They want to know how businesses are using it, how they’re hiring and training people to take advantage of it, and what it will mean for their operations.”
While tariffs remain a major concern, CFOs are becoming more adept at managing them. Top responses included shifting supply chains (51%), adding automation (45%) and raising prices (41%).
“Finance leaders have come to understand that tariff uncertainty is a factor they will have to deal with, day in and day out,” Melville said. “They’re even prepared for large fluctuations in what the tariff numbers might be. Leaders understand the pattern, and it’s less of a shock than it was in April.”
Don’t miss any content from Distribution Strategy Group. Join our list.
