GREEN BAY – More than half of Wisconsin businesses expect the state’s economy will enter a recession this year. That’s the finding of the latest Wisconsin Employer Survey by Wisconsin Manufacturers and Commerce.
According to Wisconsin Manufacturers and Commerce, the survey found that 39% of Wisconsin business owners rated the state’s economy as strong or very strong. That’s down five points from the survey last summer, and 14 points lower than in the survey a year ago.
Nick Novak, vice president of communications of WMC, says a lot of the issues state businesses are facing, are nothing new.
“We have seen out of control inflation for some time now and unfortunately this most recent survey shows us that it’s not going away anytime soon,” said Novak.
Almost 60% of businesses reported costs increasing by more than 10% in the past year. Down from 67% who reported the same six months ago.
Watch the full segment at Fox11Online.com.