In its latest economic growth forecast, the Philadelphia Federal Reserve Bank expects Wisconsin’s economy to grow 1.95% over the next six months, the best economic forecast for the state since 2003.
The Federal Reserve also reported that Wisconsin has the most improved forecast in the nation, with a three-month change of 2.36 percentage points.
Facing a likely recall election, Gov. Scott Walker said the forecast and other strong signals suggest the state economy has turned a corner, and that his policies are moving the state in the right direction.
“Although there is much work left to be done, the forecast along with additional economic indicators, such as our state’s lowest unemployment rate since 2008, indicate we are heading in the right direction,” Walker said in a press release.
The state’s unemployment rate now stands at 6.9%.
Walker said Democrats previously touted the now outdated Philadelphia Fed forecast as evidence that his policies were hurting job growth in Wisconsin.
