Index to Illinois Economy Down for Third Straight Month
By Jim Meadows
Reflecting a national slow-down, the Flash Index to the Illinois economy fell to 106.5 in April.
The Flash Index has been declining ever since reaching a post-recession high in January of 107.2.
Economist Fred Giertz compiles the Flash Index for the University of Illinois Institute of Government and Public Affairs, based on Illinois tax receipts. He says the current slump in the state reflects one in the national economy ---- including preliminary data our this week that shows first quarter Gross Domestic Product growth of just 0.1%. But Giertz says there is a potential for better times ahead.
“The winter was an unusually harsh situation and changed a lot of things and probably retarded growth", said Giertz. "And the hope is, is that will turn around and we’ll start doing some catching up now. But, again, no one really knows if that is the true answer or not. “
Any reading above 100 on the Flash Index reflects economic growth, so the recent decline means the Illinois economy is still growing ---- just not as quickly as in previous months.