Wisconsin Economic Activity Flat… And Projected to Remain Flat

That’s what the Philadelphia Fed’s leading indices, released today, indicate. In contrast, Minnesota is projected to power ahead.

Figure 1: Coincident index for Minnesota (blue), Wisconsin (red), and US (black), 1992M07=100, all on log scale; March 2018 values are implied by leading indices. Source: Philadelphia Fed, author’s calculations.

The implied level of economic activity in March 2018 will not exceed the level estimated for July 2017.

Governor Scott Walker has described the Wisconsin economy as “on fire”.