Outlook and Forecast for 2018
The Center for Research on the Wisconsin Economy (CROWE) recently published a forecast for the Wisconsin and US economies in 2018. This includes a detailed forecast and an overview outlook for the Wisconsin Economy in 2018. The policy briefs are available on the CROWE website.
In their Outlook for 2018, CROWE Director Noah Williams and CROWE Economist Junjie Guo predict a continuation of steady economic expansion with an acceleration of growth in the state. They forecast continued improvement in the labor market, with the unemployment rate falling from its already low level to new historic lows. Nationwide, economic activity accelerated in 2017 and Williams and Guo forecast that stronger growth to continue into 2018. Despite some economic uncertainty and the possibility for slower growth this year, Williams and Guo note that “the risk of substantial economic downturn is limited.”
Recent Research at CROWE
Along with the Outlook for 2018, the Center published a new research report, “Forecasting the US and Wisconsin Economies in 2018,” which provides more detail on the forecasts and the methodology underlying the forecasting model.
The newest article is the fifth report from CROWE, following a recent brief from UW doctoral student Adam Spencer, “The Effects of Removing the Corporate Repatriation Tax.” In that brief, Spencer described how the taxation of international businesses in the recent tax reform law could generate increased economic activity which would offset the lost tax revenue and remove distortions.
Last month, we were excited to launch the “CROWE’s Nest”, the Center’s new blog which provides timely discussions of economic and policy issues affecting the state. Recent posts have discussed the impact of the federal tax reform on Wisconsin, out-migration from Wisconsin and the recent data on inter-state migration, and have given an overview of CROWE’s Inaugural event, “Wisconsin and the National Economy”. All posts are available online at crowe.wisc.edu/blog.