The Center Square: Nick Novak Previews Potential Recession in 2023

MILWAUKEE – Wisconsin’s largest business group says most companies are expecting a recession this year.

Wisconsin Manufacturers & Commerce released its latest Employer Survey Thursday. It says 39% of employers rated the Wisconsin economy as strong or very strong. That is a five-point drop from the summer, and well below the 53% who said the economy was strong just a year ago.

“Unfortunately the trend line we have seen over the last 18 months has gone from a pretty positive economic outlook to a whole lot of pessimism,” WMC’s Nick Novak told News Talk 1130 WISN’s Jay Weber Friday. “Which is obviously why we’re seeing that six-in-10 businesses believe we are heading into a recession this year.”

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