WBA releases results of Bank CEO Economic Conditions Survey
In the Wisconsin Bankers Association’s latest biannual Economic Conditions Survey of Wisconsin bank CEOs, 83% of respondents rated Wisconsin’s current economic health as “excellent” or “good.” Twenty-nine percent of respondents expect the economy to grow over the next six months compared to only 8% the last time the survey was conducted in mid-year 2024. Fifty-eight percent expect the economy to stay about the same over the next six months compared to 70% in the prior survey. The responses from this recent survey indicate a brighter outlook compared to the previous surveys, with increasing numbers of bank CEOs expecting loan growth in the coming six months.
“Bank leaders — with their dual role as financial experts and active community members — are uniquely positioned to detect emerging trends,” said WBA President and CEO Rose Oswald Poels. “As indicated in this survey, 2025 will likely see a growing number of individuals, families, and businesses looking to move ahead with their financial goals, and banks stand ready to assist with their customers’ borrowing and other financial needs.”
Among the economic bright spots cited by bank CEOs in the recent survey were stable employment and consumer spending along with industry strength in sectors such as manufacturing, tourism, technology, and residential construction. Looking ahead to the first half of 2025, however, bank CEOs reported continued concerns over inflation, interest rates, a high cost of living, and businesses’ staffing challenges. Survey respondents also noted that the impacts of the recent November 2024 election remain to be seen.
The end-of-year 2024 survey was conducted November 19–December 6 with 59 respondents. Below is a breakdown of the survey questions and responses. Sums may not equal 100 percent due to rounding.
Wisconsin Bank CEO Economic Conditions Survey Results
| End-of-Year 2024 | Mid-Year 2024 | End-of-Year 2023 | Mid-Year 2023 | |
| How would you rate the current health of the Wisconsin economy. . . | ||||
| Excellent | 7% | 5% | 6% | 5% |
| Good | 76% | 71% | 62% | 68% |
| Fair | 17% | 24% | 27% | 27% |
| Poor | 0% | 0% | 5% | 0% |
| In the next six months, do you expect the Wisconsin economy to. . . | ||||
| Grow | 29% | 8% | 9% | 0% |
| Weaken | 14% | 23% | 44% | 48% |
| Stay the same | 58% | 70% | 47% | 52% |
| Over the next six months, do you expect inflation to. . . | ||||
| Rise | 22% | 8% | 5% | 14% |
| Fall | 14% | 26% | 48% | 44% |
| Stay about the same | 64% | 66% | 47% | 42% |
| How likely would you say a recession is in the next six months? | ||||
| Very unlikely | 2% | 0% | 3% | 0% |
| Unlikely | 47% | 43% | 18% | 5% |
| Neutral | 34% | 32% | 38% | 24% |
| Likely | 17% | 18% | 32% | 56% |
| Very likely | 0% | 6% | 9% | 15% |
| Rate the current demand in the following categories: | ||||
| Business Loans | ||||
| Excellent | 7% | 6% | 5% | 6% |
| Good | 46% | 49% | 36% | 44% |
| Fair | 39% | 40% | 52% | 48% |
| Poor | 8% | 5% | 8% | 2% |
| Commercial Real Estate Loans | ||||
| Excellent | 7% | 3% | 9% | 11% |
| Good | 47% | 37% | 30% | 33% |
| Fair | 41% | 54% | 48% | 50% |
| Poor | 5% | 6% | 12% | 6% |
| Residential Real Estate Loans | ||||
| Excellent | 4% | 6% | 0% | 5% |
| Good | 14% | 22% | 13% | 14% |
| Fair | 61% | 34% | 28% | 50% |
| Poor | 21% | 38% | 59% | 31% |
| Agricultural Loans | ||||
| Excellent | 0% | 2% | 2% | 0% |
| Good | 25% | 14% | 18% | 41% |
| Fair | 61% | 67% | 67% | 50% |
| Poor | 14% | 17% | 14% | 9% |
| Deposit | ||||
| Excellent | 2% | 3% | 2% | 3% |
| Good | 33% | 20% | 18% | 17% |
| Fair | 53% | 48% | 56% | 58% |
| Poor | 12% | 29% | 24% | 23% |
| In the next six months, do you anticipate the demand for the following categories will. . . | ||||
| Business Loans | ||||
| Grow | 41% | 8% | 14% | 6% |
| Weaken | 3% | 26% | 35% | 50% |
| Stay the same | 56% | 67% | 52% | 44% |
| Commercial Real Estate Loans | ||||
| Grow | 22% | 8% | 9% | 9% |
| Weaken | 17% | 27% | 41% | 56% |
| Stay the same | 61% | 66% | 50% | 35% |
| Residential Real Estate Loans | ||||
| Grow | 42% | 29% | 20% | 13% |
| Weaken | 7% | 6% | 20% | 25% |
| Stay the same | 51% | 65% | 59% | 62% |
| Agricultural Loans | ||||
| Grow | 17% | 7% | 9% | 12% |
| Weaken | 10% | 15% | 21% | 32% |
| Stay the same | 73% | 78% | 70% | 56% |
| Deposit | ||||
| Grow | 14% | 15% | 17% | 17% |
| Weaken | 8% | 9% | 20% | 31% |
| Stay the same | 78% | 75% | 64% | 52% |
| In the next six months, are the businesses in your bank’s market area likely to. . . | ||||
| Hire employees | 29% | 23% | 11% | 25% |
| Maintain current staffing levels | 68% | 67% | 77% | 69% |
| Lay off employees | 3% | 11% | 12% | 6% |
