A new report from BMO Harris Bank predicts Wisconsin will see a
2.1 percent increase in gross domestic product in 2014.
also expects future growth of 2.6 percent in 2015 after growing
by 1.7 percent in 2013.
looked at the eight states where BMO Harris has a footprint.
Among those, Illinois is expected to see an increase of 1.7
percent in GDP in 2014 and 2.9 percent in 2015. Indiana is
expected to see 2.5 percent and 2.7 percent growth. 2.3 and 2.8
for Minnesota, 1.8 and 2.4 for Missouri, 1.7 and 2.5 for Kansas,
2.8 and 3.3 for Florida and 2. and 3.5 for Arizona.
income will grow by 3.3 percent in 2014 after staying flat in
2013. Employment is expected to increase by 1.2 percent and the
jobless rate is forecasted to be down to 5.2 percent in 2015.
Mineesota’s jobless rate is forecasted to be 4.2 percent by that
point, while Indiana’s would be 5.1 percent and Illinois would
be 6.8, according to the report
report says employment has been expanding “at a solid clip,” the
report also notes underlying measures of labor market health
remain weak in Wisconsin.
Wisconsin’s housing market was less severely hit than than many
other states during the recession — prices fell 10 percent
versus 18 percent nationally — prices are not rising quite as
fast as elsewhere.
finances are in good shape, according to the report, with fund
spending expected to grow 4.7 percent in fiscal 2014.