Real GDP grow by 2.8 percent in a year over comparison with Second Quarter 1995. However, the economy picked up a considerable amount of momentum during the last three months of this period when it expanded at a brisk 4.2 percent rate. Another signal the nation's economy accelerated is the 3.9 percent increase in industrial production. In the financial sector, short‑term interest rages are lower by 25 basis points from last year, which ads as a stimulus to the economy. Finely, inflation remained under control with prices edging up by only 2.8 percent. 

     To summarize the unemployment situation, the unemployment rates for the area are at historic 25‑year lows. The Central Wisconsin seasonally unadjusted labor force weighted unemployment rate declined from 5.5 to 4.0 percent. Further, this rate is well below the national mark of 5.3 percent. 

     Likewise, the employment situation for the three‑county area is bright. Every county in our region grew at a substantial rate. Portage and Marathon counties experienced payroll increases of 5.8 and 8.7 percent respectively. Meanwhile, Wood county payrolls shot upwards by a very impressive 8.5 percent.
 

     Industrial sector employment also did well over the course of the year. Manufacturing and services expanded to the tune of 2.8 and 2.2 percent. Trade and government added 1.8 and 7.1 percent to their job rosters. In total, these sectors grew from 133.2 to 138.8 thousand positions in Central Wisconsin. Once again, another indication of the vibrancy of the kcal economy.
 

     Central Wisconsin's major industrial sectors continued to expand over the past twelve months. From a historic point of view, the services sector has increased from approximately 42.5 thousand to 48.1 thousand jobs over the past four years. In contrast, manufacturing employment in the region has gone from approximately 32.5 thousand to 34.0 thousand over the same period. These numbers bring into focus the notion that our economy has become more service oriented in nature.
 

     Business conditions are proxied in the business executive poll taken by the CWERB. The basic belief of this group is that the national and kcal economies are experiencing slightly stronger conditions than one year ago. Moreover, they forecast that matters will only improve slightly in the next quarter. When the discussion turns to prospects of their particular industry the level of optimism expressed is fairly high from a historic standpoint.

     The Marshfield‑Wood county economy expanded at a rather fast clip in terms of a year over comparison with Second Quarter 1995. Points of interest in this quarters report include the very low unemployment rate for the area and the substantial amount of employment growth which took place in the county. Almost all other economic indicators for the region were positive in nature.