Wisconsin’s real GDP increased 2.8 percent in the second quarter this year, a decent pace until it is compared to the rest of the country, according to data from the U.S. Commerce Department Bureau of Economic Analysis.
The U.S. GDP grew 4.2 percent during the second quarter.
Compared to other states, Wisconsin’s annualized growth rate ranked 48th for the quarter. It was the slowest in the 12-state Midwest region. Three nearby states – Iowa, Illinois and Indiana – grew at a 3.6 percent clip. Minnesota’s economy grew 5 percent and Michigan grew 5.4 percent.
While durable goods manufacturing represented Wisconsin’s strongest industry, adding 0.73 percentage points of growth, a number of other states saw the sector grew even faster. Indiana got a 1.17 point contribution from durable goods, Michigan was up 1.88 and Minnesota added 1.3 points of growth from the industry.
Read more in BizTimes Milwaukee.