Wisconsin’s Economy Outpaces 4 Midwestern States In February

Wisconsin’s economy grew faster than four of its Midwestern counterparts in February, according to the Federal Reserve Bank of Chicago.

In the report, released in late March, Wisconsin’s manufacturing sector saw the biggest growth, with more than 65 percent of the state’s measured monthly economic activity.

Improvements in the oil and gas industry have likely helped Wisconsin’s manufacturing industry, said Thom Walstrum, the economist who compiled the report.

“One big aspect of the Wisconsin manufacturing base is that there are a lot of fabricated metals manufacturers,” he said. “And from what we can tell, they do a lot of supplying to oil and gas activity further west.”

The data is part of the Midwest Economy Index, a weighted average of state and regional economic indicators that measure growth in business activity. The index looks at statewide figures in manufacturing, construction and mining, the service industry and consumer spending.

In total, the five-state Midwestern region — Wisconsin, Michigan, Illinois, Indiana and Iowa — saw above average growth with a 0.26 jump in economic activity on the index, up from a 0.01 score on the MEI in January.