Wisconsin Bankers Association's Economic Conditions Survey

Tuesday, June 6th, 2023 -- 1:01 PM

In the Wisconsin Bankers Association's biannual Economic Conditions Survey of Wisconsin bank CEOs, nearly three quarters of respondents rated Wisconsin’s current economic health as “excellent” or “good.”

These most recent 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.

Pessimism is fading as 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.

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