No catch-up in sight for Wisconsin with Minnesota [1] (or the Nation, for that matter)

In a previous post, I noted that the most recent revisions had widened the gap between Wisconsin and other economies. Recently released forecasts from the Philadelphia Fed indicate the gaps will persist.

Figure 1: Log coincident indices for Minnesota (blue), Wisconsin (red), Kansas (teal) and for the United States (black), all normalized to 2011M01=0. Source: Philadelphia Fed, and author’s calculations.

As noted previously, the MN-WI gap has been revised to larger in the latest dataset, and the newest set of leading indicators indicate no diminishment of the gap.