US finance chiefs’ outlook for America’s economy sunk to a four-year low amid mounting concern over high oil prices, waning consumer demand and inflation, according to a study. The findings, which are to be released on Friday, follow a spate of US economic data and corporate earnings reports in recent weeks that fuelled fears of a recession and damped hopes of an easing of the financial crisis. Optimism among chief financial officers has also faded this year, and in the second quarter touched its lowest point since June 2004, a survey by Financial Executives International and Baruch College’s Zicklin School of Business showed. At least half of those surveyed believed that the price of crude oil would climb to at least $160 a barrel in six months, or about a third higher than where it traded on Thursday. Many have taken steps to insulate their companies from the jump in fuel costs, raising prices, cutting corporate travel or investing in more energy-efficient gear. Controlling expenses is among the top challenges for the rest of the year. More
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