Wisconsin GDP grew at 4.2% SAAR in Q2. The 2023Q4 figure was raised 2.7% by the annual update (the corresponding figure for US GDP was 1.2%).<\/p>\n
Figure 1:<\/strong> Wisconsin GDP, post-update (bold dark blue), pre-update (light blue), and Wisconsin Economic Outlook forecast for 2024 (red), in bn.Ch.2017$ SAAR. Source: BEA, DoR.<\/em><\/p>\n As in the national update, a large portion of the revision seems to have been driven by previous undercounting of income (see this post). Here\u2019s disposable income for Wisconsin, pre- and post-update.<\/p>\n Figure 1:<\/strong> Wisconsin total personal income, post-update (bold dark blue), pre-update (light blue), in billion $, SAAR. Source: BEA.<\/em><\/p>\n The gap in total personal income in 2023Q4 is 1.9%.<\/p>\n Note that the roughly 3% decline in Wisconsin GDP registered 2022Q4-23Q2 is deleted, replaced with a roughly 0.3% decline in 2022Q4-23Q1. Hence, the WisGOP declared recession of 2023 disappears<\/a>.<\/p>\n Here\u2019s a snapshot of economic indicators for Wisconsin, including updated data for GDP and wages and salaries, as well as early benchmark for NFP:<\/p>\n![\"\"](\"https:\/\/econbrowser.com\/wp-content\/uploads\/2024\/09\/wigdppix_sep24.png\")
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