Wisconsin’s economic activity declined in August, according to the latest Midwest Economy Index from the Federal Reserve Bank of Chicago.
The Chicago Fed covers five Midwestern states: Wisconsin, Illinois, Iowa, Michigan and Indiana. Overall, Midwest economic activity was -0.04 in August, up from -0.16 in July.
A zero value indicates the economy is growing at its historical trend rate. A positive value indicates above-average growth, while negative indicates below-average growth.
Wisconsin was a drag on the Midwest total last month, with a -0.04 rate of economic growth.
Illinois and Michigan, however, had positive August contributions of +0.02 and +0.05, respectively. Iowa had -0.06, while Indiana had -0.01 in August.
In the individual sectors covered by the index, Wisconsin’s manufacturing activity held steady, construction declined, consumer declined and services grew.
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