Wisconsin Bankers Association: Wisconsin bank CEOs weigh in on inflation and possibility of recession

MADISON, Wis. – In the Wisconsin Bankers Association’s biannual Economic Conditions Survey of Wisconsin bank CEOs, 71% of respondents rated Wisconsin’s current economic health as “excellent” or “good.” This marks a decline from the mid-year 2021 survey, when 91% of survey respondents gave “excellent” or “good” ratings. Nearly all (over 98%) of the Wisconsin bank CEOs who completed the most recent survey predict that the economy will stay the same or weaken in the next six months. 
“Wisconsin bank CEOs have a unique vantage point in that they are both financial experts and highly involved individuals in their local communities,” said WBA President and CEO Rose Oswald Poels. “While the economy remains relatively stable, bankers are keeping a close eye on important indicators and stand ready to support their customers through possible economic challenges over the coming months.” 
Among the economic bright spots cited by bank CEOs in the survey were strong tourism, construction, manufacturing, and agricultural industries. Survey results indicate that the hiring market and real estate market are cooling down. Top economic concerns reported by bank CEOs were inflation, cost of living/childcare/education, rising interest rates, oil and gas prices, staffing shortages, and the war in Ukraine. 
The mid-year 2022 survey was conducted May 24–June 10 with 56 respondents. Sums may not equal 100 percent due to rounding. Below is a breakdown of the survey questions and responses. More survey results and graphics are available on www.wisbank.com/June22Survey
Wisconsin Bank CEO Economic Conditions Survey Results  How would you rate the current health of the Wisconsin economy. . . Mid-Year 2022 End-of-Year 2021 Mid-Year 2021 Excellent 7% 6% 15% Good 64% 73% 76% Fair 29% 20% 10% Poor 0% 1% 0%       In the next six months, do you expect the Wisconsin economy to. . . Mid-Year 2022 End-of-Year 2021 Mid-Year 2021 Grow 2% 21% 48% Weaken 63% 15% 39% Stay the same 36% 64% 13%       Over the next six months, do you expect inflation to. . . Mid-Year 2022 End-of-Year 2021 Mid-Year 2021 Rise 50% – – Fall 22% – – Stay about the same 28% – –     How likely would you say a recession is in the next six months? Mid-Year 2022 End-of-Year 2021 Mid-Year 2021 Very unlikely 4% – – Unlikely 16% – – Neutral 20% – – Likely 45% – – Very likely 16% – – 
More Survey Results and Graphics