WMC surveyed 180 member companies Shows only 22% of respondents believe Wisconsin's economy is strong.
source: world medical center.
This is a curious finding given that December employment data released today showed continued job growth.
figure 1: Wisconsin Nonfarm Payroll Employment (black, left scale) and Philadelphia Fed Early Benchmark NFP (red, left scale), Wisconsin November Economic Forecast (light blue, left scale), Civilian Employment (grey, right scale) , Wisconsin state economic forecast for November (light blue, right scale). Source: Bureau of Labor Statistics, DWD, Philadelphia Fed, Wisconsin Department of Revenue November Economic Forecast.
GDP also grew in the third quarter.
figure 2: Wisconsin GDP (bold black) and Wyesconsin Economic forecasts (blue), all in 2017 billions of SAAR.Source: BEA, and Wisconsin Department of Revenue November Economic Forecast.
Here are other indicators.
image 3: Wisconsin nonfarm employment (dark blue), civilian employment (tan), real wages and salaries, deflated by national chain CPI (tan), GDP (red), coincidence index (green), all data are Log November 2021 = 0. Source: Bureau of Labor Statistics, Bureau of Economic Analysis, Federal Reserve Bank of Philadelphia, and author's calculations.
For the week ended December 30, the Baumeister-Leiva Leon-Sims WECI index was 0.55 percentage points above trend.
