58% of companies postponed or canceled investments in Mexico and the U.S. due to COVID-19: PwC

MEXICO — Due to the coronavirus pandemic, 58% of companies in Mexico and the U.S. deferred or canceled a planned investment, according to the latest survey carried out by the PwC consultancy called CFO COVID-19 Pulse Survey.

Amity Millhiser, the firm’s chief customer officer, noted that this is part of the rapid adjustments companies are making in response to the pandemic that will impact their revenues. The survey reveals that the three things that concern them the most are: a potential global economic recession (84%), lack of liquidity in their companies (64%) and a decrease in consumption (45%).

PwC explained that corporations are actively updating employee benefits and evaluating other options, including hiring freezes, reduced workweeks, possible pay cuts, and more.

 “The PwC CFO COVID-19 Pulse Survey will be conducted twice a month to track changes in sentiment and priorities,” the firm said.

Source: El Financiero