This forecast from the Wisconsin Dept of Income primarily based on S&P World nationwide forecast finalized earlier than the election.
Determine 1: Wisconsin nonfarm payroll employment (black), Philadelphia Fed early benchmark (inexperienced), and Wisconsin Dept. of Income forecast (mild blue), in 000’s, s.a. Supply: BLS, Philadelphia Fed, and WI DoR.
Whereas the official collection is above This fall forecast, the Philadelphia Fed’s early benchmark means that, when the info are revised, employment might be undershooting the forecast. The forecast itself is up relative to the August forecast, unsurprising given the brightening prospects on the nationwide stage.
Determine 2: Wisconsin GDP (black), and Wisconsin Dept. of Income forecast (mild blue), in bn.Ch.2017$ SAAR. Supply: BEA and WI DoR.
Wisconsin GDP is now outpacing the forecast, to date. Nevertheless, given the substantial revisions to state stage GDP that may happen, I wouldn’t place an excessive amount of emphasis on this end result.
