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Wis. bank CEOS report more favorable economy than end of 2020, survey finds

The economists said employment peaked in February and fell sharply afterward, marking the...
The economists said employment peaked in February and fell sharply afterward, marking the beginning of the recession.(Source: Gray News)
Published: Aug. 3, 2021 at 9:49 PM CDT
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MADISON, Wis. (WMTV) - A new survey of Wisconsin bank CEOs released Tuesday indicates a more favorable outlook of the economy now than compared to the end of 2020.

About three-quarters of respondents rated the current economy as “good,” 15% said it was “excellent” and 10% described it as fair, according to the Wisconsin Bankers Association’s biannual Economic Conditions Survey of Wisconsin.

Compared to the end of 2020, 58% of respondents rated the economy at “fair,”38% called it “good,” 3% said “excellent,” and 1% said it was “poor.”

WBA President and CEO Rose Oswald Poels said bank CEOs get to see the day-to-day happenings with their customers and have industry expertise, which gives them an interesting insight on the economy.

“It is very encouraging to see the economy improving as people begin to resume their spending on products and leisure activities in ways they were unable or hesitant to do six months or a year ago,” said Poels.

Some CEOs believe the more favorable economy is due to increase in demand for goods and services as COVID-19 restrictions lift.

Nearly half of CEOs surveyed believe the economy will grow over the next six months, the survey noted.

The study surveyed 62 people during the last two weeks of July.

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