WMC has a survey of 180 member firms out indicating only 22% of respondents believed that the Wisconsin economy is strong.
Source: WMC.
This is a strange finding in light of today’s December employment release, which showed continued employment 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 (gray, right scale), Wisconsin November Economic Forecast (light blue, right scale). Source: BLS, DWD, Philadelphia Fed, Wisconsin Department of Revenue Nov. Economic Forecast.
GDP is also up in Q3.
Figure 2: Wisconsin GDP (bold black), and Wisconsin Economic Forecast (blue), both in bn.Ch.2017$ SAAR. Source: BEA, and Wisconsin Department of Revenue Nov. Economic Forecast.
Here are other indicators all together.
Figure 3: Wisconsin Nonfarm Payroll Employment (dark blue), Civilian Employment (tan), real wages and salaries, deflated by national chained CPI (tan), GDP (red), coincident index (green), all in logs 2021M11=0. Source: BLS, BEA, Philadelphia Fed, and author’s calculations.
The Baumeister-Leiva Leon-Sims WECI index is 0.55 ppts above trend, for the week ending 12/30.
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