Table 1 shows that real GDP grew by a scant 1.4 percent over the course of the yea likewise, industrial production, a measure of factory activity, increased by approximately 2. percent. A weak economy and Federal Reserve policy have pushed interest rates lower during the past year and as a result, three month treasury bill rates are down to around 4.0 percent as in March 1992. But inflation remains abated and under control‑ The CPI rose by only 3.2 percent over the last twelve months.
 

     Unemployment rates in Central Wisconsin (Table 2) are at about the same level as la year. Portage, Marathon, and Wood Counties now have seasonally unadjusted rates of 5. percent, 6.7 percent, and 5.5 percent respectively. Wisconsin, with an unemployment rate of 5 percent, was below the Central Wisconsin mark of 6.1 percent. The national rate remained stubbornly high at a seasonally unadjusted 7.7 percent.
 

     Employment in the region continues a trend of growth and expansion. All three counties of Central Wisconsin experienced job creation. Portage and Marathon Counties each add 1,800 people to their local payrolls. Wood County added approximately 1500 this time around. For the three county area over 5000 new jobs were created over the course of the year, expansion of 4.1 percent. In comparison, nationally the number of new jobs expanded by a infinitesimal 0.4 percent.
 

     Industrial sector employment for the region grew by 3400 over the course of the yea expanding by a healthy 2.9 percent. Every sector of the economy except trade participated in the expansion. There are now 122.2 thousand people employed in these nonfarm categories. Growth in the area is quite welcome and may suggest that the regional economy has avoided falling in recession.
 

     Key exporting industries in our area expanded over the course of the year. Expo industries are industries which bring new dollars into the area by selling their products outside the region. The largest number of jobs, 500, was gained in the lumber and wood prod industry. Food processing also added to payrolls, expanding by 200 positions. Overall, the categories along with paper products and finance, insurance, and real estate expanded by 2.0 percent from 1991.
 

     Business confidence in the area during first quarter was mixed. Recent activity in national and local economies is perceived to be at about the same level as one year ago. How this group is decidedly more optimistic about future economic prospects for the nation, 1 economies, and their industries. The data also suggest that this group's last quarter expectations were not realized. Hopefully, these expectations will be fulfilled this time around.
 

     The Marshfield/Wood County economy grew by a modest yet respectable amount the past twelve months. Most economic indicators were positive in nature and suggest local area may have missed the recent recession. With the national economic engine appear be gathering steam, this can only be construed as positive news for Wisconsin and our area.