Hunter Campbell Mood of the CFO survey shows further optimism for the economy, amid heightened uncertainty

Key findings from the second annual Hunter Campbell Mood of the CFO Survey shows improved confidence among New Zealand finance leaders for company performance in the year ahead, although the level of uncertainty in the economy is heightened, and the vast majority of finance leaders expect to battle ongoing economic challenges.

“The 2025 Hunter Campbell Mood of the CFO Survey shows that 38% of CFOs expect modest to strong growth over the next 12 months, up from 31% last year,” said Infometrics Chief Executive and Principal Economist Brad Olsen. “The proportion of CFOs who are pessimistic about their own outlook has fallen from 17% in 2024 to 5% in 2025, pointing to a more upbeat view of the economic recovery.”

“However, uncertainty over the global economic outlook has also increased, with 17% of CFOs reporting they are unsure about their expectations for the world economy over the next year – up sharply from 5% reporting the same in 2024,” said Mr Olsen. “Nearly a third of CFOs expect improved global economic conditions, and a third expect global economic conditions to be unchanged. These challenges around uncertainty are taking up an increasingly large amount of attention from CFOs, with 77% of CFOs saying that economic uncertainty or market volatility would be a key driver of company performance over the next year.”

“The response when we launched the inaugural Mood of the CFO last year showed the importance of enabling the voices of New Zealand’s CFOs to be heard,” said Hunter Campbell Managing Partner Lee Marshall. “This year, we’ve taken that a step further, ensuring the 2025 Mood of the CFO is ‘for CFOs, by CFOs’, with the support of a working group of some of New Zealand’s top Accounting and Finance leaders. They helped to curate the themes and shape the questions that would add the most value to the community.

“CFOs have made it clear that talent remains under pressure in the finance space. Succession planning is the weakest link, with just one in four CFOs confident their organisation is ready for leadership transitions. Internal pipelines are limited, and L&D options remain thin outside the Big Four. Younger CFOs prioritise ambition in hiring, while older peers place more weight on experience, indicating a growing generational divide. Hybrid work is still common, though many larger and older organisations are shifting back towards the office.”

“This year’s Mood of the CFO report offers a compelling snapshot of the opportunities, perspectives and complexity shaping finance across Aotearoa. Complexity continues to define our two-speed economy, and the role of CFOs,” said Nicola Taylor, co-founder of Tax Traders and Taxi. “Most CFOs anticipate ongoing macroeconomic challenges, call for policy reform to ease compliance and simplify tax, and face critical decisions around AI transformation, all in an environment where some are exceeding performance targets, and others are contending with stagnation or decline. The role of the CFO has never been more important for business, for the flourishing of their team members and Aotearoa.”

The 2025 Hunter Campbell Mood of the CFO Survey research was undertaken by Insights Exchange, and was developed by Hunter Campbell, in partnership with Tax Traders, Infometrics, and Extraordinary. The Hunter Campbell Mood of the CFO was established to ensure the voice of CFOs were heard, with CFOs being pivotal figures in business strategy and performance, constantly considering economic factors and are often the co-pilot to the CEO of the business. The 2025 Hunter Campbell Mood of the CFO Survey had 238 respondents, gained from senior finance professionals via an online survey that ran between 30 June and 28 July 2025, and captured around 600 verbatim responses.

Other key findings from the 2025 Hunter Campbell Mood of the CFO include:

• Policy settings are a clear friction point. Four in five CFOs want wholesale reform to ease compliance and simplify tax. Female CFOs and those aged 55+ are most sceptical of government’s understanding of business realities, while those aged 45–54 report slightly more optimism. Among all groups confidence in the government’s responsiveness remains low.
• Technology investment continues to rise. While only 16% report meaningful impact from AI today, two-thirds expect it to reshape team structures within two years. Data analytics and automation are seen as the most valuable applications, with services industries experiencing the most disruption to date. ERP system rollouts are common but often hindered by budget, training, and data migration challenges.
• Board relationships are generally strong, particularly in financial oversight. However, performance in succession planning, diversity, and leadership development continues to lag, most notably in blue-collar sectors and among CFOs nearing retirement.
• Strategically, CFOs are thinking long-term and emphasising adaptable and sustainable growth. The right people, technology, and leadership structures are essential to navigate the current market.

The full Hunter Campbell Mood of the CFO Survey report can be accessed by registering for a copy at https://www.huntercampbell.co.nz/mood-of-the-cfo/

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