Wisconsin’s real gross domestic product grew 2.5% in 2018, the second largest increase in the Midwest and the state’s strongest year of economic growth since 2010.
The 2018 growth rate marks the first time Wisconsin’s real GDP has increased by more than 2% in a year since 2011. After two years of negative growth in 2008 and 2009, Wisconsin posted 3% growth in 2010 and 2.1% in 2011. From 2012 to 2017, the state averaged 1.3% annual growth.
Wisconsin now ranks 17th in the country last year for economic growth. The U.S. economy as a whole grew 2.9% last year while the Great Lakes region grew 2.2%, according to data from the U.S. Bureau of Economic Analysis.
The state of Washington had the strongest economic growth at 5.7%, followed by Utah, Idaho, Arizona and Florida.
Among nearby states, Michigan had the strongest growth at 2.7%. Wisconsin outpaced Minnesota, 2.2%, Iowa, 1.4%, Illinois, 2.1%, and Indiana, 1.9%.
And you’ll note that the overall growth would have been stronger and outpaced Michigan if we has not also been shrinking government, which is a good thing.
Government cut growth by 0.28 percentage points.