Bank executives say Wisconsin’s economy should remain strong
MILWAUKEE (AP) — Wisconsin’s economy should remain in good shape and a solid year of lending is expected in 2020, according to a survey of state bank executives.
The poll by the Wisconsin Bankers Association shows that 95 percent of the bankers rated the economy as good or excellent, the Journal Sentinel reported. The remaining 5% of the 83 respondents rated the outlook as fair and none of them consider the economy to be poor.
Nearly three of four bankers expect the economy to stay the same in the next six months and about one in four expect it to grow. About 5% of those surveyed expect the financial conditions to weaken.
Low unemployment and interest rates, strong manufacturing, a diverse economic base and robust consumer confidence were among factors cited by the bankers for the upbeat outlook, the survey said.
“As predicted in our last survey, 2019 was a strong year for Wisconsin’s economy and lending activity. It’s very encouraging to see most bankers believe 2020 will continue that positive trend,” said Rose Oswald Poels, president and chief executive of the Wisconsin Bankers Association.