Bankers are again becoming pessimistic about the economy, according to Grant Thornton LLP’s 17th Bank Executive Survey, conducted in conjunction with Bank Director magazine.

Only 15 percent of bank executives believe the nation’s economy will improve in the next six months, while a quarter believe that it will actually get worse, according to the survey. Six months ago, nearly half of bank executives believed the economy would improve.

"This is consistent with what we are seeing with our other surveys," said Nichole Jordan, Dallas Audit partner and leader of Grant Thornton’s banking and securities sector practice. "Bankers, just like other business leaders, are feeling the uncertainty in the market at the moment."

Of those who believe there will be a double-dip recession, 35 percent believe the primary cause will be high levels of government spending and another 35 percent believe to the primary cause will be continued levels of high unemployment, according to the survey. Large bank executives tended to be more positive, with 63 percent of them indicating they believed the nation will not experience a double dip recession, while only 42 percent of small bank respondents believed that a double dip recession will be avoided.

Bank executives’ plans for future expansion of their workforce have remained consistent, with nearly a quarter of bankers saying their bank will increase hiring in the next six months.

Survey: Majority Of Bank Executives Pessimistic About Economy

by Banker & Tradesman time to read: 1 min
0