The national economic statistics given In Table 1 show that the United States economy was stronger over the past twelve months than what most analysts had originally forecasted. Real Gross Domestic Product expanded by 3.1 percent from June of last year. Please note, however, that in second quarter the economy appears to have come to a stand still. Real Gross Domestic Product expanded by just 0.5 percent. In conjunction with the year over comparison Industrial production rose 3.6 percent. Short term interest rates are sharply higher than a year ago coming in at 5.35 percent for three month t‑bills. Inflation meanwhile continues to be tamed as it hovers around 3.0 percent. 

     Unemployment rate changes were all over the board in Central Wisconsin. Portage county's rate was unchanged while Wood county rose by 1.0 percentage point. In contrast Marathon's rate dropped by 1.4 percentage points. Overall for Central Wisconsin the weighted unemployment rate declined from 5.5 to just 5.1 percent. The state and nation also registered lower unemployment rates in the year over comparison. 

     Total employment growth in our area was very robust during second quarter. Portage, Marathon. and Wood counties added 2,600, 1,100, and 700 jobs respectively over the period. The 4,400 job gain gives Central Wisconsin a 3.2 percent change in employment. The state added 65.0 thousand jobs during the period and in so doing raising its employment level up to 2.8 million. To contrast consider that the nation added 1.9 million to its payrolls representing a gain of 1.5 percent. U.S. employment now stands at 123.9 million people. 

     With regard to Central Wisconsin industrial sector employment the results were equally pleasing. AI of the industrial sectors added to their payrolls. Manufacturing added 3.8 percent, services 3.0 percent, trade 3.4 percent, constriction 6.1 percent, and government 3.2 percent to their employment rosters. Thus, overall employment rose from 127.8 to 132.2 thousand or 3.4 percent in Central Wisconsin's industrial sectors. 

     Business Confidence in the national economy's future has waned. Fears of a slow down are well entrenched into the minds of regional business people. Also, the panel has the opinion that the region should remain in about the same economic condition while their particular industry is positioned to do slightly better than a year ago. Thus this group believes their industries can weather a national slow down. 

     The Marshfield area economy expanded but did so with some difficulty. The economic indicators for the region were mixed and show that the pace of expansion has declined. For Instance employment is higher but so is the unemployment rate, and help wanted advertising is still substantial but nonetheless has weakened over the course of the year. Lastly, construction activity took place but at a slower rate than last year.