Bankers are losing their bullishness about an economic turnaround. Whereas 45% of bank executives though the economy was on the right track six months ago, a new survey by Grant Thornton and Bank Director magazine found that only 15% of bankers now think the economy will improve in the next six months. At 60%, most bankers think things will stay the same.
“Banking executives had high hopes of improvement in May and they just haven’t seen it,” says Nichole Jordan, national banking and securities industry leader at Grant Thornton in New York. “What they have seen in low corporate and consumer confidence, a depressed commercial real-estate market, concerning new regulations and tax increases.”
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