July 31, 2014

Bankers optimistic about economic recovery

A growing number of Wisconsin’s bank CEOs feel the state is on the road to economic recovery.

Wisconsin Banker’s Association president Rose Oswald Poels says 50-percent of those responding to a bi-annual survey by the group believe the economy will grow over the next six months, while no one said they expect it to weaken. She says “this increased optimism is good for the state” and shows bankers feel “Wisconsin’s economy has really turned a corner.”

Oswald Poels says the survey is a good indicator of the economic climate in the state, since bankers often work with businesses as they look to grow and add jobs.

In a similar WBA survey earlier this year, 52 percent of bankers responding said they were seeing poor demand for loans. In the latest results, that number dropped to just 23 percent.

Despite the improving responses, Oswald Poels admits the economy has a long way to before the market reaches pre-recession levels.

AUDIO: Andrew Beckett reports (1:08)