Economic recovery is expected to continue into 2022, with metro area businesses expressing optimism about future growth in a new Business Outlook Survey of area companies conducted by the Metropolitan Milwaukee Association of Commerce (MMAC.) Eighty percent of businesses surveyed anticipate real sales increases in 2022, while 69% predict profit gains and 66% expect employment growth for their local operations.
“To date the local economy has recovered nearly 70% of jobs lost in the COVID-19 downturn,” said Bret Mayborne, MMAC’s economic research vice president. “Businesses remain optimistic that this recovery will continue through 2022. Nonetheless, there are concerns. Business surveyed see price inflation and labor shortages as potentially troublesome as the new year progresses.”
The Business Outlook Survey, conducted by the MMAC, contains responses from 97 Milwaukee area firms, both large and small, employing more than 21,000 people.
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