WisBusiness: DOR report says economy will grow in ’08

WisBusiness.com:

Wisconsin’s economy remains resilient and is expected to grow next year, according to the quarterly Wisconsin Economic Outlook released by the Department of Revenue.

The report also shows growth in personal income and employment, despite major drags on the national economy.

“Under Governor Doyle’s leadership, Wisconsin is experiencing solid growth despite the economic challenges we face nationally and our state also continues to perform well in the region,” said Revenue Secretary Roger M. Ervin.

“As the credit crunch, downturn in the housing market and high oil prices continue to cause economic concerns across the nation, it is increasingly important that we maximize the strengths of our state’s economy, which Governor Doyle has done through initiatives in agriculture, energy, technology and education.“

Wisconsin personal income rose 5.3% in 2006 and is expected to grow a healthy 5.2% in 2007. Wisconsin continues to outperform the region in personal income, ahead of Indiana, Michigan and Ohio.

Employment in the state grew 0.7% in 2006, with a growth of 0.5% expected in 2007. Some of those gains were in the manufacturing sector, which grew by 2,260 jobs in the past three years. In that same period, the trend in national manufacturing employment declined with a loss of 114,670 jobs.

See release at http://www.wisbusiness.com/index.iml?Article=112787