Annual WBA Bank CEO Economic Conditions Survey forecasts economic growth and continued loan demand
(Madison) – Bankers are predicting growth in Wisconsin’s economy over the next six months and steady loan demand in most categories , according to the latest Wisconsin Bankers Association (WBA) Bank CEO Economic Conditions Survey. This is the first prediction for growth by survey respondents since 2014.
“Wisconsin’s bankers have their finger on the pulse of the state’s economy given their integral role helping local businesses grow and families prosper,” explained Rose Oswald Poels, WBA president and CEO. “Loan demand has been very healthy in Wisconsin for the past year which is always a key indicator that our state’s economy continues to do better. Such a positive prediction is a great way to kick off 2017.”
Wisconsin’s economy is expected to grow in the first six months of 2017 according to 57% of the survey respondents while 43% believe it will stay the same. This is good news for the state as 75% of respondents rated the economy as good, 24% fair and 1% excellent.
Businesses will be hiring in 2017 according to 39% of respondents, versus 60% who say current staffing levels will be maintained.
Over 64% of bankers responding to the survey say the current demand for commercial lending is excellent or good while 49% say the same for business loans. Another 46% say business loan demand is fair. Agricultural loan demand is considered to be good according to 57% of respondents.
In three of the four loan categories (agricultural, commercial lending and business loans), 50% or more of respondents believe loan demand will stay the same. Only 44% believe residential real estate will stay the same while 30% believe it will grow.
Media note: Anthony Chan, Charles L. Evans, Chief Economist, JPMorgan Chase and Governor Scott Walker will both be speaking at the upcoming Wisconsin Economic Forecast Luncheon on January 5. This event will be hosted by the WBA at the Alliant Energy Center in Madison. For a press pass, contact WBA’s Eric Skrum.
WBA is offering a copy of the WBA’s Wisconsin Economic Report which is sector forecasts from industry leaders on what 2017 holds for Wisconsin’s economy which can be found by clicking here.