National economic statistics are displayed in Table 1. Real Gross Domestic Product rose by a brisk 4.3 percent from Third Quarter 1993. Industrial production in the nation surged nearly 7 percent higher than last year. In the mean time credit conditions became somewhat tighter when the short‑term U.S. Treasury Bill rate jumped from 2.9 percent to 4.79 percent from a year ago. The measure used to gauge inflation, the Consumer Price Index, rose by a moderate 3.0 percent. The unemployment rate for Central Wisconsin remained unchanged from last year at 3.9 percent on a seasonally unadjusted basis. Portage county's rate was unchanged at 3.6 and Wood county fell from 4.3 to 3.4 percent. Marathon was the only area to register an increase rising from 3.8 to 4.3 percent. Central Wisconsin matched the unemployment rate of the state, 3.9 percent, but was well below the national rate of 5.6 percent for September. 

     Employment activity in the region was mixed. Marathon and Wood counties expanded by a robust 3.5 and a modest 1.3 percent respectively. However, Portage county payrolls declined by a disappointing 0.8 percent. Wisconsin's employment picture is bright with the state growing by a brisk 3.5 percent or adding a net 92.7 thousand jobs since September of 1994. 

     Industrial sector employment growth was modest for Central Wisconsin in a year over comparison approach. The rate of payroll expansion was 1.3 percent with the total figure rising from 128,630 to 130,320. As usual the services sector was the most active growing from 43,870 to 46,160 or by 5.2 percent from last year. Somewhat of a pleasant surprise was the 3.2 percent gain in durable good manufacturing, rising from 15,090 to 15,570. 

     Key sector employment was off the employment pace of a year ago. In sum, these backbone exporting industries contracted from 31,040 to 30,750 a decline of 1 percent. Paper products and food processing fell by 80 and 770 positions. Partially offsetting the contraction were the employment gains recorded in lumber and wood products and FIRE sectors, 220 and 340 respectively. 

     The CWERB's survey of regional business executives suggests that optimism levels while still positive concerning the future direction of national and state economies, and their particular industry, were not as high as the marks recorded for June 1994. Thus, like at the national level where opinion polls show a decline in sentiments we too have registered similar results in our regional sample. 

     Marshfield's area economy was very stable since last year. Employment was little changed in either the total or industrial sector categories. Further, the Marshfield employment index rose from 146.8 to 150.7 suggesting that local area payrolls rose by approximately 2.7 percent. Most all other measures of activity were likewise little different than in the previous year.