Nearly 4-in-5 Wisconsin bank CEOs say the state’s economy is either “excellent” or “good,” according to the Wisconsin Bankers Association’s biannual Economic Conditions Survey.
These marks are major increases from a year ago, when only 42 percent of respondents said the same, according to the end-of-year survey conducted Dec. 14-24 with 80 respondents. Sixty four percent of Wisconsin bank CEOs who completed the survey predicted the economy will stay the same in the next six months while fewer leaders (21 percent and 15 percent), say the economy will either grow or weaken, respectively.
Many CEOs spoke of low unemployment rates, strong consumer demand and housing market, high commodity prices, growth in health care technology, and increased manufacturing and construction. Still, inflation, Covid-19 variants, workforce shortages and supply chains posed economic concerns for bankers.
“Wisconsin bank CEOs are in a unique position to gain insights into the microeconomic activities in their markets given the critical roles they play as lenders, advisors, and community leaders,” said WBA President and CEO Rose Oswald Poels. “As such, they often see developments occurring before economic trends are widely identified. As industries rebound — including tourism, manufacturing, construction, and agriculture — economic stability is taking hold.”