The Philadelphia Federal Reserve Bank releases something every month called the "Coincident Index" (CI), which they say "combines four state-level indicators to summarize current economic conditions in a single statistic."
How does Wisconsin rank? According to the most recent numbers, Wisconsin comes in at 42nd in the country. In addition, despite obfuscation from the Walker administration and the WMC, since Walker took office, Wisconsin's rate of improvement in in this index (6.3%) is the lowest among our neighbors and far below the national average rate of improvement in the index: 7.8%.
So... where is Walker and the WMC getting the "ranked second in the nation in economic growth" claim?
In some cases they're pointing to the Philly Fed's "Leading Index," which is a forecast of the rate of improvement of the CI over the next six months. (The Philly Fed has forecasted that Wisconsin's CI rate of improvement will be the second best in the country over the next six months.) In other cases they're pointing to Wisconsin's rate of improvement in the CI, from July to August, being the second best in the country.
But, alas, second best rate of improvement in the CI from July to August is simply not the same as "second in the nation in economic growth." What's the difference? One is what Wisconsin is-- 42nd in economic growth-- and one is basically a measure of how fast Walker is putting down the pizza and jumping off the couch-- 2nd fastest in the country.
And even these rate of improvement numbers are less than they seem, mostly because Wisconsin was soooo low in their CI, rate of improvements are much easier to achieve.