Wisconsin GDP grew 1.2 percent to start year

Economic indicators

Last updated on July 2nd, 2019 at 09:07 am

Wisconsin’s economy grew at an annualized 1.2 percent rate in the first quarter of 2018. The performance was better than the start to 2017, but left the state ranked 40th nationally, according to data from the U.S. Bureau of Economic Analysis.

Economic indicators

The increase in the state’s real gross domestic product from the fourth quarter to the first was better than the 0.7 percent clip posted at the beginning of 2017. In the 12-state Midwest region, however, Wisconsin only ranked ahead of Kansas and North Dakota.

The United States as a whole grew at a 1.8 percent annual rate during the same period.

Durable and nondurable goods manufacturing were both strong contributors to the state’s growth, adding 0.44 and 0.28 percentage points respectively and outpacing the country as a whole.

Real estate and rental and leasing was a big contributor for Wisconsin, adding 0.43 points, about even with the country.

Other strong performing sectors included transportation and warehousing, which added 0.17 points and information, adding 0.2 points. Those two sectors were slightly behind the country as a whole.

Agriculture, forestry, fishing and hunting was the state’s worst performing sector, subtracting 0.49 percentage points from growth. The sector was down only slightly nationally.

Wisconsin’s retail trade sector also only added 0.08 points to growth, compared to 0.17 points nationally.

Read more economic data reports at the BizTracker page.

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Arthur covers banking and finance and the economy at BizTimes while also leading special projects as an associate editor. He also spent five years covering manufacturing at BizTimes. He previously was managing editor at The Waukesha Freeman. He is a graduate of Carroll University and did graduate coursework at Marquette. A native of southeastern Wisconsin, he is also a nationally certified gymnastics judge and enjoys golf on the weekends.

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