The national economic statistics presented in Table 1 are given in a year over comparison. The economy, as measured by real GDP, expanded by a healthy 2.9 percent. Another measure of economic activity is the industrial production index In short, the country's factory production rose by 4.5 percent over the year. In general, interest rates continued their downward trend, treasury bill rates declined by 112 basis points since March 1992, and inflation remained moderate at just over 3.1 percent for the year. 

     Seasonally unadjusted unemployment rates in Central Wisconsin counties fell over the year. In some cases the drop was rather dramatic. Wood County recorded the lowest rate with just 5.3 percent of the civilian labor force being unemployed. In Central Wisconsin the unemployment rate fell from 6.2 to 5.6 percent on a labor force weighted basis. This, of course, is an indicator of the overall health of the area economy. 

     Employment is another area in which the region registered a fine performance over the past twelve months. Each county in Central Wisconsin posted rather impressive gains. Nearly 5000 more people are employed in the area than in March 1992. This growth represents an expansion of 3.7 percent. One nagging question, of course, concerns the quality of the jobs being created. 

     An examination of employment growth by industrial sector shows that most of the growth, approximately 81 percent, took place in the service and trade sectors, which are typically lower paying. This is especially true for the trade sector, as the services sector does have a number of high‑paying subclassifications. Overall, industrial sector employment rose by 2700 jobs or by 2.2 percent from March of 1992. To be precise, the total number of industrial sector jobs increased from 120,800 to 123,500. 

     The industries that export goods and services to the rest of the country and the world are defined as Central Wisconsin's key industries. The first quarter 1993 report card for this group of industries is positive. Overall, the number of people employed in these key businesses rose from 27,400 to 28,000, an expansion rate of about 2.2 percent over the past year. The largest amount of activity was registered in the lumber and wood products classification with 500 more people employed than in 1992, a growth rate of 10.4 percent. It always bodes well for our area when these key industries expand, because, to a large degree, our economy is predicated on their existence and well‑being. 

     Area business leaders tell the CWERB that matters have improved locally and nationally. Moreover, this group is very confident about the economic viability of their particular industries. Once again, this is good news for the local economy. 

     The local area economy expanded during first quarter of 1993. Almost all indicators of economic performance were positive. Further, the long tern fundamentals are sound and should serve as a good foundation for future economic viability. However, the good news in this quarter's report is dampened by the announced closing of the J.1. Case plant. The loss of an estimated $50 million or more to the local economy and 425 jobs is a blow to the area. If a buyer is not found, it will be some time before this shock is absorbed by the local economy.