A new report offers a dreary outlook for the Wisconsin economy.
The survey conducted by the Wisconsin Bankers Association shows a majority of financial institution leaders in the state expect economic conditions to remain the same or grow worse over the next six months. WBA spokesman Eric Skrum says the results basically show that consumers shouldn't expect much improvement through the rest of year.
Skrum says bankers who responded are seeing an increase in personal bankruptcies and loan defaults. They also expect demand for commercial and residential loans to remain flat or go down.
Skrum says there's a renewed focus on financial literacy, with making sure consumers know their limits and understand how live under a budget. He says knowing how to spend carefully is a key part of that.
Overall, only 35-percent of Wisconsin bank CEOs rated the health of the state economy as good, down from 52-percent of those surveyed in January.