Large-company CFOs’ long-term outlook for the North American economy remains strong despite weakening confidence in their own companies' prospects, according to Deloitte LLP’s second-quarter CFO Signals survey. Expected growth in revenue and earnings hit an historic survey low and hiring expectations are at the lowest level in more than a year.

For the second quarter, 59% of CFOs describe North American conditions as good or very good, unchanged from last quarter. None describe it as bad, the lowest level since Deloitte began measuring economic sentiment in the second quarter of 2013.

This quarter’s net optimism index of 18.8% extended a 10-quarter positive streak but is one of the lowest levels in two years and down significantly from last quarter's 34.4%. Moreover, the percentage of CFOs expressing rising optimism in their company's prospects fell to 38% from last quarter's 48%.

Domestic hiring expectations also fell to their lowest levels in over a year to 1.2% from 2.4% last quarter. The median fell to 0.0%, and 49% of CFOs expect year-over-year gains, well below last quarter's 58% and the lowest level since the first quarter of 2014.

Country-specific hiring expectations are 1.0 for the US, down from 2.3% last quarter; -1.0% for Canada, down from 1.4 % last quarter; and 4.2% for Mexico, down from 4.7% last quarter.

Financial services and technology CFOs reported the highest average expectation at 3.9% and 2.5%, respectively, while energy/resources at-0.9% and T/M/E CFOs at -1.3%, had the lowest expectations.

The Deloitte CFO Signals survey for the second quarter of 2015 was conducted during the two-week period ended May 22. Eighty-four percent of the 101 CFO respondents were from organizations with more than $1 billion in annual revenue, and 71% were from publicly traded organizations.