MacIver News Service | July 2, 2013[Madison, Wisc…] Wisconsin has risen to 20th in the nation in terms of projected economic growth, according to the May 2013 state leading index of the Federal Reserve Bank of Pennsylvania. The index is a leading economic indicator which forecasts six-month economic growth in all 50 states.
“Whether it’s increased wages, increased manufacturing jobs, increased revenue, or a lower unemployment rate, all economic indicators show Wisconsin is creating jobs,” Governor Walker said. “We’re headed in the right direction.”
The index ranked Wisconsin at 49th for growth prospects just a month ago, but later revised the number to 40th when calculation errors were discovered. The Federal Reserve Bank of Pennsylvania calculates the index using state housing permit data, unemployment insurance claims, the Institute for Supply Management manufacturing survey, and prior indexes created by the bank.
See the full report here.