The Wisconsin Bankers Association’s biannual Economic Conditions Survey of Wisconsin bank CEOs found that nearly three quarters of respondents rated Wisconsin’s current economic health as “excellent” or “good,” according to a recent press release.
The survey results show some easing of inflation and recession concerns; 86% of respondents predict inflation to fall or stay about the same over the next six months, compared to 76% of respondents in the prior survey conducted at the end of 2022.
Only 48% of respondents predict the economy to worsen over the next six months, compared to 72% of respondents at the close of 2022.
Among the economic bright spots cited by CEOs in the survey were high employment and wages, demand for goods and services, strong industries — summer tourism, construction, agriculture, and manufacturing — and in-migration from the Twin Cities and Chicago.
Top economic concerns reported by bank CEOs were inflation and labor — particularly in service-related industries, deposit growth, and compressing interest rate margins.
The mid-year 2023 survey was conducted May 16–31 with 66 respondents. Additional survey results and graphics are available online.
