Growth in Wisconsin's gross domestic product (the value of all goods and services produced in the state) is expected to lag behind growth in that of the U.S. as a whole, according to a report by the Wisconsin Department of Revenue.
The Wisconsin Economic Outlook, released shortly before the New Year, estimates that the state's GDP grew 1.7 percent in 2012 and will inch upwards in 2013 and 2014 by 0.9 and 2.1 percent, slightly less than projections for the national GDP.
The state projects accelerating job growth, however, with 3,000 new jobs a month in 2013, a rate that would drive unemployment down to 6.8 percent. By 2015, it will have dipped to 5.8 percent, the study concludes.
Fun nugget: We all know the recession and the housing crisis turned many proud or aspiring homeowners into renters, but DOR's statement that rental income reported in the state more than tripled between 2007 and 2011, mushrooming from $2.4 billion to $7.5 billion, is still hard to reckon with reality.
But don't go developing a new high-rise just yet, growth is estimated to have slumped in 2012 and to have another relatively soft year in 2013 before flatlining in 2014 and 2015.