WI Department of Revenue Resumes Publishing of State Economic Outlook Report
The Wisconsin Department of Revenue announced last week that they would resume publishing of the Wisconsin Economic Outlook report. The report was published quarterly from the late 1970’s until 2015, and provided an overview of the state’s current economic conditions and a forecast for a variety of economic metrics, including employment, housing and personal income. The March report forecast released Friday calls for both the state economy and the national economy to continue to grow in 2019, but at a slower pace. The report also says the state’s unemployment rate will continue to remain below the national rate, while Wisconsin’s employment grew eight-tenths of a percent in 2018 – and similar growth is forecast in the next two years. Personal income in the state continues to grow – albeit at a slower pace than the national level. The report found Wisconsin’s personal income grew 3.6% in 2017, which is below the national average. That percentage is expected to grow to 3.8% for 2018 and 3.9% in 2019, compared to 4.5% growth nationwide for both years.