Wednesday, January 11, 2012

WI Economic Activity vs. US Economic Activity: A Color Picture!

Much has been written about Scott Walker's "It's (NOT) Working" Campaign in which he is spending millions of dollars to sell to the people of Wisconsin. While he lies, cherry-picks numbers and holds his family hostage in campaign commercials (which is a great indicator of public confidence, right?) the graph below tells the real story of the direction Wisconsin is moving - compared to our Midwest neighbors and the country in general.

Figure 3: Log coincident index for Wisconsin (WI, bold blue), Illinois (IL, gold), Indiana (IN, chartreuse), Iowa (IA, purple), Michigan (MI, dark red), Minnesota (MN, green), and US (bold black), all rescaled to 2011M01=0. Vertical line at 2011M01. Source: Federal Reserve Bank of Philadelphia and author’s calculations.

Interesting that the only state to do worse than Wisconsin is Indiana...

H/T Econbrowser