Should state take glee in new economic reports?
Last week, the Federal Reserve Bank of Philadelphia released its May index that put Wisconsin 20th in economic growth expectations over the next six months. The April index at first had Wisconsin ranked a lowly 49th, but revisions moved Wisconsin up to 40th. Still, a leap 20 spots in the new index is sizable.
Gov. Scott Walker’s office issued a news release touting that and other good news:
--Wisconsin’s initial unemployment insurance claims are at prerecession levels.
--Building permits are up 22.6 percent from a year ago.
--CNBC recently ranked Wisconsin fifth nationally in manufacturing job creation.
--Milwaukee’s manufacturing index rose in June and sits higher than the national index.
--Wisconsin’s percentage change in average weekly wage in the fourth quarter of 2012 was 12th nationally and trailed only Minnesota’s in the Midwest.
“We’re headed in the right direction, and we’re moving Wisconsin forward,” Walker said in the news release.
These reports are positive, indeed. Are they worth celebrating, or are politicians best advised not to get too exuberant?
We’ll share our perspectives in our editorial Tuesday.
Greg Peck can be reached at (608) 755-8278 or email@example.com. Or follow him on Twitter or