Real Gross Domestic Product moved forward by approximately 4.0 percent from First Quarter of last year. Industrial production also performed well, as our country's factories expanded output by almost 5.5 percent. At the same time tightening of credit conditions on the part of the Federal Reserve System raised interest rates from 3.5 to 5.6 on short term government debt. Inflation over the course of the year appears to be under control. Prices advanced only by 2.9 percent from last year. 

     Unemployment rates were generally lower in the region, state, and nation. Each county in our region saw its unemployment rate drop to approximately 6.1 percent from the 6.6 percent rate of a year ago. Wisconsin registered at a very low 4.8 percent rate of unemployment, suggesting that the state economy is quite strong. 

     Employment growth in our region was also quite robust. Portage added an estimated 1,100 workers torts payroll. Marathon and Wood payrolls each expanded by 700. Overall 2,500 jobs were added to the three county payroll giving us a 2.0 percent gain over the past twelve months. As of March 1995 they are now 135.9 thousand people employed in our Central Wisconsin region. 

     Industrial sector employment was even more brisk. For example manufacturing, services, trade, and construction increased by 4.3, 2.7, 5.9, and 5.4 percent respectively. Even with government employment failing by 1.1 percent the region managed to grow by 3.4 percent, thus adding an additional 4,200 jobs to industrial sector payrolls. Moreover, the growth in these sectors has been quite dramatic over the 1985‑1995 time period. 

     Business executives in Central Wisconsin express the opinion that the economy here has strengthened since last year and to a greater extent than the nation as a whole. Further, they say that financial matters will continue to gather momentum in the region and especially so in their particular industry. 

     In sum the Marshfield area economy turned in a rather fine performance over the past twelve months. Most indicators of employment and economic activity are better situated than before. Specifically the report shows that total employment, industrial sector employment and the unemployment rate are significantly improved. Help wanted advertising, unemployment claims, and residential construction have also advanced in the proper direction over the year.