The equities markets may have recouped after their dip at the beginning of March, but the nation's CFOs don't seem to be quite so sanguine about the health of the economy. According to a recent survey by Financial Executives International and Baruch College, 37.7% of the 244 CFOs responding said they were more concerned about the possibility of recession than they had been in the fourth quarter of 2006, with close to one-quarter describing themselves as quite and even very concerned.

Besides economic growth, which led the list of concerns, CFOs ranked healthcare costs and consumer spending as their next two biggest economic worries. A little more than one-third expect the Federal Reserve to lower interest rates, while half expect interest rates to remain the same, and 42.6% predicted that the dollar would continue to lose value against the euro for the rest of 2007.

An overwhelming number–68.7%–said that companies found guilty of backdating options should be fined. More than half of the CFOs–55.8%–told the FEI-Baruch survey that current financial reporting regulations in the U.S. “somewhat hinder” the ability of U.S. capital markets to attract new listings.

Almost 74% of the CFOs surveyed worked at companies with revenues of under $500 million and 67.8% were from companies with fewer than 1,000 workers.