Deliotte, a financial services firm has recently conducted a survey of chief financial officers in top businesses around the country. The survey is conducted on a quarterly basis. This one reached 128 CFOs throughout the U.K. banking system. Of these, 39 were from FTSE 100 companies and 47 from FTSE 250 companies. The survey was intended to provide the company with a look at the financial landscape from the perspective of these well-placed CFOs. Since 2008, the U.K. has experienced a significant downturn. The country has been in a record recession for the last six consecutive financial quarters.

The Forecast is Good

Despite the downturn, however, the CFOs surveyed were optimistic about the future. Confidence is at its highest since the economic problems began in 2008. In fact, these CFOs have demonstrated a healthy appetite for risk. Almost four in five of them thought that the country’s banking system could and would sustain an economic recovery.

According to the report, this more positive outlook has been made possible by the initial efforts of CFOs to prevent the worsening of the economy once the downward trend became apparent. “CFOs recognized that a financial crisis required a focus on costs, cash and investor confidence. That response has paid off,” said Ian Stewart, Deloitte chief economist. “Today, businesses are lifting their eyes from the recession and are looking for growth in 2010. The economy and the financial system are a long way from normal but things are looking up.”

Cautiously Optimistic

The economy is not out of the woods yet, however. Although we are expected to see that it has returned to growth in the data from the final months of 2009, CFOs are still very concerned about the forward facing trends of 2010. 48% of those surveyed suggested that the situation would require careful watching as any growth we may experience can just as easily end in collapse as in recovery. The bottom line for now is that the economic recovery is expected to be weak and potentially unstable.

So where does this leave us? For the moment at least, the key phrase is cautiously optimistic. We are beginning to see the light at the end of the tunnel that has so long been predicted. This is an unmistakably positive development. But we are not out of danger yet, and the economy will need to be carefully nurtured until that moment comes. Until that time, we should not assume that the recovery will be either quick or permanent. It certainly will not be easy. Many of the chiefs surveyed are planning expansionary strategies for the upcoming year-a far cry from the retrenching that has been so common recently-and you can be sure that this forward motion will be carefully gauged.

This article was written by Tom Sangers on behalf of MTI UK Money Transfer Agent, providing Moneygram transfers across the world.