Sagging Numbers in Illinois Economic Index
A University of Illinois economist doesn't see a bottom yet in the latest economic slowdown.
The monthly U of I Flash Index authored by Fred Giertz fell for a seventh straight month in March. It now stands at 95.6 - with any number below 100 showing economic contraction. It's been five months since the index showed growth in the Illinois economy. The Flash Index takes the state's economic pulse by examining state tax receipts for the previous month. Giertz expects further declines ahead for the index. It still hasn't reached the level seem in the last two slowdowns, in 1990 and 2001 - and Giertz believes this latest recession is deeper.